Three Days at Camp David by Jeffrey E. Garten

Author:Jeffrey E. Garten
Language: eng
Format: epub
Publisher: Harper
Published: 2021-05-15T00:00:00+00:00

This import tax is a temporary action. It isn’t directed against any other country. It is an action to make certain that American products will not be at a disadvantage because of unfair exchange rates. When the unfair treatment is ended, the import tax will end as well.

Nixon here used the word temporary again, just as he had with wage and price controls, implying that the tariff increase would be removed when unfair treatment of the United States ended. However, the criteria for removal were vague, and the import surcharge definitely had a gun-to-the-head feeling—which was exactly what Nixon and Connally wanted.

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