Some Options for the U.S.

TOWARD THE SOVIET UNION

-- Propose deep mutual cuts in military forces and expenditures going well beyond those under consideration in START and conventional-arms talks.

-- Offer most-favored-nation status, allowing the U.S.S.R. the same trading arrangements provided to most industrial nations, including Hungary.

-- Reopen access to Export-Import Bank credits on terms available to other countries.

-- Waive the Johnson Debt Default Act, which prohibits private loans to Moscow.

-- Follow the West German example of encouraging joint ventures by establishing a fund that would insure companies against Soviet default or expropriation.

-- Support Soviet efforts to make the institutional changes...

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