Oil Imports

Archive Report

Focus from Home and Abroad

Foreign Pressure on U.S. to Cut Imports

At the economic summit meeting in Bonn in July, President Carter pledged to raise oil prices in the United States to world levels and to reduce U.S. oil imports. Carter's pledge was strongly praised by the other summit participants — Chancellor Helmut Schmidt of West Germany, President Valéry Giscard d'Estaing of France and Prime Ministers Takeo Fukuda of Japan, James Callaghan of Britain, Pierre Elliott Trudeau of Canada and Giulio Andreotti of Italy. In return, the six foreign leaders agreed to try to stimulate their economies in order to improve markets for U.S. exports.

For months preceding the summit meeting, the foreign leaders had denounced the Carter administration's failure to curb the U.S. addiction to ...

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