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Message to the Congress Transmitting Annual Report on the Trade Agreements Program for 1969.

December 30, 1970

To the Congress of the United States:

Pursuant to the requirements of the Trade Expansion Act of 1962, I transmit herewith the Fourteenth Annual Report on the Trade Agreements Program. This report covers the year 1969.

Stimulated by continued economic expansion, free-world trade in 1969 rose 14 percent to a new record of about $245 billion. In the United States, monetary and fiscal policies designed to restore stable and balanced growth of the economy were reflected in a slowdown of the increase in imports, while exports continued to rise at about the same rate as in 1968. As a result, the deterioration in the U.S. trade balance that had characterized performance during the previous four years was reversed.

During the period covered by this report, I forwarded to the Congress my proposals for new trade legislation. These proposals, together with others, are still under consideration. The decisions taken by the Congress will have an important bearing on our ability to advance our national interest, both in terms of sound growth of the domestic economy and further development of international cooperation so that trade can continue to be an engine of progress rather than a source of conflict among nations.

This Administration remains committed to the objective of expanding mutually advantageous world trade. The record of the United States demonstrates clearly its willingness to assume its obligations in this field. We must continue to do our part, while at the same time defending vigorously the rights of our traders under international agreements.

The economic and political dynamics of the 1970s will enhance the importance of trade in relations among nations. In 1969, part of the essential groundwork was initiated; the Commission on International Trade and Investment Policy is currently examining new approaches tailored to our long term domestic and foreign policy interests. With Congressional support for policies aimed at securing a more open world trading system, I am confident that the United States will reap its full share of the benefits from closer international cooperation to achieve greater prosperity and better relations throughout the world.

RICHARD NIXON

The White House

December 30, 1970

Note: The 39-page report is entitled "Fourteenth Annual Report of the President of the United States on the Trade Agreements Program--1969."

Richard Nixon, Message to the Congress Transmitting Annual Report on the Trade Agreements Program for 1969. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/240824

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