The Daily Texan [article]

University Of Texas At Austin, Austin, The University Of Texas At
HONOLULU TAP)-President Nixon arrived in Hawaii On Wednesday for sum m it talks w ith Japanese Prime M inister Kakuei Tanaka which appeared v irtu a lly r e ta in to produce an emergency agreement to ease the lopsided U.S. trade imbalance w ith Japan. The chief executive's plane touched down at Hickam A ir Force Base at 4:25 p.m. (9:25 COT) after a flight of slightly more than five hours from the E l Toro Marine A ir Station near San Clemente, Calif. Bofore presiding at a rcd-carpet welcome for
more » ... the new Japanese leader. Nixon planned a bit of electionyear politicking, arranging to attend a reception for the Island state's business and political leaders at the horns Of long-time friend Clare Boothe Luce. Besides the two days of talks with Tanaka, the President scheduled a meeting Thursday with Ambassador E llsw orth Bunker. U.S. °nvoy to Saigon, who was summoned to Hawaii to report on latest Vietnam developments. The Nixon-Tanaka talks are scheduled to last six and 0 half hours and include a w orking dinner Thursday night. At a news conference the day before he departed. Nixon said he expected the meeting to produce " some progress in frying to reduce" the S3.4 billion annual deficit the United States is posting in its dealings with Japan. Sources reported the two leaders would ra tify an emergency agreement drafted by lower-level officials calling for Japan to im port on a crash basis $750 m illion worth of such U.S. products as enriched uranium , farm equipment, helicopters and passenger planes. The agreement was worked out a fte r Presidential ad viser Henry Kissinger, in a Tokyo v is it Aug. 19, cautioned that urgent steps were needed to reduce the trade d e ficit and avoid strained relations between the two countries which Nixon has called 'economic superpowers." The trade imbalance, Nixon said at his Tuesdav news conference, " is not healthy for the United States" or for Japan because it could fuel demands fo r restrictive quotas. The interest of Japan and the United States w ill he better served by freer trade rather than more re strictive trade," the President said.
doi:10.26153/tsw/31359 fatcat:3r2vq2syzbcd5apk67mhvubjvq