Economic Nationalism in Latin America

Archive Report

Current U.S. Controversy With Peru

Threatened Loss of Foreign Aid and Sugar Quota

Unless a face-saving device is found at the last moment, President Nixon must cut off American aid to Peru on April 4 and suspend that country's lucrative U. S. sugar quota on April 9. As matters now stand, the President has virtually no choice. He is required by law to take the foregoing steps in retaliation for Peru's expropriation of American-owned property, Oct. 4, 1968, without adequate compensation.

Up to now, the Peruvian government has shown little inclination to ease the crisis by offering to make some kind of reasonable settlement with the International Petroleum Co., a subsidiary of Standard Oil of New Jersey. On the contrary, the Peruvians have escalated the crisis. Their ...

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