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nuclear Freeze

During the Cold War, several periods of protest against nuclear weapons took place in the United States. By far the largest protest campaign involved the nuclear freeze movement. This ...

Trade Policy, Federal

Trade Policy, Federal   Reference library

Judith Stein

The Oxford Encyclopedia of American Business, Labor, and Economic History

Reference type:
Subject Reference
Current Version:
Social sciences, Business and Management, Economics
10,421 words

...agreement, which would be like waiting for Godot. Nixon thus implemented a series of actions: the United States suspended the convertibility of dollars into gold, it imposed a temporary border tax of 10 percent to address the trade deficit, it established a wage and price freeze to inhibit inflation, and it reinstituted the tax credit for investments. The border tax also pressured the Europeans to accept shifting exchange rates in favor of the United States. By 1971 the industrial nations agreed to an exchange rate adjustment of about 11 percent, less...