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TRADE LEGISLATION
THE PRESIDENT HAS SEEN
Q.
What is your position on the Trade Bill passed by the House?
Will you veto it?
A.
I continue to support the original Administration Trade
Bill with the addition of textile quotas and the Domestic
International Sales Corporation - a tax incentive proposal
designed to stimulate U.S. exports. As you know, I have
supported the concept of voluntary agreements to limit textile
imports because of the special circumstances of that industry.
In the absence of such agreements, I support legislative quotas
on textile imports.
The Trade Bill as passed by the House contains a number
of provisions which I support, as well as several objectionable
provisions which could damage our foreign trade and weaken our
fight against inflation by raising prices for consumers. In parti-
cular, I oppose quotas on shoes and the excessive loosening of
the escape clause. I have urged the Senate to put this legisla-
change
tion in an acceptable form.
It is impossible to predict the final content of any Trade
Bill which might reach my desk. It is equally impossible to
predict the outcome of the textile negotiations in which we are
now engaged. Therefore, I cannot indicate at this time what
action I might take with respect to a Trade Bill ultimately
passed by the Congress.
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"ocrText": "TRADE LEGISLATION\nTHE PRESIDENT HAS SEEN\nQ.\nWhat is your position on the Trade Bill passed by the House?\nWill you veto it?\nA.\nI continue to support the original Administration Trade\nBill with the addition of textile quotas and the Domestic\nInternational Sales Corporation - a tax incentive proposal\ndesigned to stimulate U.S. exports. As you know, I have\nsupported the concept of voluntary agreements to limit textile\nimports because of the special circumstances of that industry.\nIn the absence of such agreements, I support legislative quotas\non textile imports.\nThe Trade Bill as passed by the House contains a number\nof provisions which I support, as well as several objectionable\nprovisions which could damage our foreign trade and weaken our\nfight against inflation by raising prices for consumers. In parti-\ncular, I oppose quotas on shoes and the excessive loosening of\nthe escape clause. I have urged the Senate to put this legisla-\nchange\ntion in an acceptable form.\nIt is impossible to predict the final content of any Trade\nBill which might reach my desk. It is equally impossible to\npredict the outcome of the textile negotiations in which we are\nnow engaged. Therefore, I cannot indicate at this time what\naction I might take with respect to a Trade Bill ultimately\npassed by the Congress."
}