Cold War: How Much Trade with the Reds?

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Only in London did Ball find opposition; the British flatly declined to join the gentlemen's agreement to restrict the Soviets' credit. Britain is especially fond of the idea that more trade with Moscow, including strategic goods, will eventually pacify the Soviets. Moreover, the new Tory government is eager to reduce unemployment by increasing output and shipping the goods overseas as fast as possible. The plan has not worked so far: British exports to Russia and Eastern Europe totaled only about $310 million in 1962, and no big trade deal appears imminent.

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