472–9

Conversation No. 472-9

Date: March 23, 1971
Time: 11:30 am - 12:13 pm
Location: Oval Office

The President met with Peter G. Peterson

Textile negotiations
-Peterson’s report
-US strategy
-Congress
-A meeting in Albuquerque
-Possible negotiations
-Defense Department
-Agency for International Development [AID]
-Chief negotiator
-Peterson
-Textile industry
-Requirements
-Asian countries
-Loyalty to the President
-President’s policy
-US textile industry
-State Department
-Philip H. Trezise
-Peterson’s talk with Harry S. Dent
-Anthony J. Jurich
-Okinawa experience
-David M. Kennedy
-Textile
-Shoe imports
-Jurich and Trezise
-Support for President’s policies
-Peterson’s conversation with Dent
-President’s view
-Role
-Jurich
-Background
-Dent
-Role
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-Kennedy
-Jurich
-Trezise
-President’s view
-Kennedy
-Jurich
-Kennedy
-Textile industry Conv. No. 472-9 (cont.)
-Japanese experience
-Trezise, Kennedy, and Jurich
-Negotiating position
-Peterson’s view
-Japan
-Peterson’s view
-Defense Department
-Korea
-Taiwan

Shoe imports
-Spain
-Italy
-Peterson’s view
-Potential political problems
-Political impact
-Wilbur D. Mills, John W. Byrnes
-US producers
-Effect
-Byrnes
-Political impact
-Options
-Compared with textiles
-Scope
-Support of shoe manufacturers in Congress
-Kentucky
-US industry
-Kennedy
-Possible trip to Italy and Spain
-Peterson’s conversation with Italian ambassador
-Possible actions
-Options
-Tariffs
-Spain
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-Kennedy’s role
-President’s position
-Italy, Spain
-President’s public statements
-Kennedy’s role
-Possible trip
-Strategy
-Congress Conv. No. 472-9 (cont.)
-Administration position
-Forthcoming conversation with Peterson

A council [Council for International Economic Policy [CIEP]?]
-Kennedy
-William P. Rogers
-George P. Shultz
-Kennedy

Monetary policy
-Current situation
-Balance of payments
-Peterson’s meeting with John B. Connally, Arthur F. Burns, Paul W.
McCracken, and Shultz
-Philosophy
-Exchange rates
-US dollar
-Foreign aid and military aid
-Response
-Issue of currency devaluation
-France, Great Britain
-Future
-Need for change
-West Germany currency study
-Effect of trade balances
-Japan
-Currency
-Connally, Burns, McCracken, Shultz, Peterson group
-Balance of payments
-Exchange rates
-Negotiating position
-Need for leadership
-Exchange rates
-Japan, Okinawa, trade
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NIXON PRESIDENTIAL MATERIALS STAFF

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-Situation in Chile
-Taxes on foreign business
-Potential problems
-Maurice H. Stans

Trade with Japan
-Okinawa, defense issue
-Previous agreement Conv. No. 472-9 (cont.)
-Industrial policy
-Military, politics
-People
-Compared with British
-US textile policy
-Negotiations
-Possible leaks
-Kennedy
-Legal considerations
-Senators

Adjustment program
-Current program
-Effect
-Need for changes
-Congressmen and Senators
-Big companies, little companies
-Consolidation
-Antitrust laws
-Byrnes’ concerns about shoe company in Wisconsin
-Retooling and retraining
-Economists’ views
-Aerospace industry

Poverty program
-Past experience
-Investment policy
-Management
-Focus

Adjustment program
-A council meeting
-Attendees
-Businessmen
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-Congress

International initiatives
-Agriculture
-European imports
-Citrus fruit
-Tobacco
Non-tariff barriers Conv. No. 472-9 (cont.)
-Spain, Morocco
-Latin America, Japan, Southeast Asia
-Meeting blocs
-Mediterranean countries
-US military role
-Cooperation with US
-Multinational corporations
-Mergers
-Labor view
-Jobs
-Need for US policy

Future administration action on trade
-Congressional action
-Outside advice
-Businessmen
-Compared with government workers

Stephen B. Bull entered at an unknown time after 11:30 am

President’s schedule
-Press

Bull left at an unknown time before 12:05 pm

Edwin D. Etherington
-Background
-New position

A meeting of CIEP
-Importance
-Henry A. Kissinger
-Kissinger, Shultz, John D. Ehrlichman
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-Domestic Council
-Compared with National Security Council [NSC]
-Membership
-Role of State Department
-Role of Stans
-Kennedy’s role
-Connally’s role
-Balance of payments Conv. No. 472-9 (cont.)
-Burns and Shultz relations
-H. R. (“Bob”) Haldeman
-Burns
-Burns, Connally, McCracken, and Shultz
-Balance of payments
-Quadriad meetings
-Shultz
-Burns
-Connally, Burns
-Role of State Department
-Projects
-Adjustment program
-Connally
-Rogers

Etherington and Robert H. Finch entered at 12:05 pm

Greetings

Etherington’s acquaintance with Peterson

President and Peterson’s meeting
-International economic issues
-Spain, Italy, Japan

A statement

Peterson left at 12:05 pm

A plan

Photo arrangements

Photographers entered at an unknown time after 12:05 pm
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American Stock Exchange

Stock market

[Unintelligible]

President’s dinner
-George W. Romney Conv. No. 472-9 (cont.)

An unknown woman

Etherington’s staff

The photographers left at an unknown time before 12:13 pm

-Romney
-Henry E. Ford, II
-Romney, Max M. Fisher
-Charles B. (“Bud”) Wilkinson

Volunteer agencies
-Administration proposed
-Volunteers in Service to America [VISTA]
-Peace Corps
-Teachers’ Corps
-Effect on Etherington’s Center for Voluntary Action
-Women’s role
-Lenore Romney, Thelma C. (Ryan) (“Pat”) Nixon’s role
-G. W. Romney’s role
-Blacks’ role
-Mrs. Nixon’s role
-President’s role
-Needs

Ford

President’s dinner

Etherington and Finch left at 12:13 pm
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NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 9/08)