Nixon White House Tapes › Tape 52 › Conversation 052-001
Nixon, Council on International Economic Policy & Rogers on International…
Thursday, April 8, 1971 · 10:40 AM–12:17 PM ET · Cabinet Room · 1 hr 38 min
AI Summary
President Nixon and the Council on International Economic Policy (CIEP) met to review global economic trends, specifically focusing on the United States' competitive position regarding trade, technological exports, and shifting GNP shares among developed and developing nations. The participants discussed the challenges posed by Japanese industrial policies, the role of multinational corporations, and potential antitrust law reforms to better align with international business realities. The meeting served to define the CIEP’s procedural structure and establish priorities for future foreign economic initiatives, including trade legislation and adjustment assistance programs.
- International Economic Policy
- Balance of Trade
- Japan-United States Economic Relations
- Antitrust Policy
- Multinational Corporations
- Technology Exports
Audio
This clip was extracted from the full tape recording by Easy Nixon.
Listen to the full tape segment
part A, 2:15
052a.mp3
052b.mp3
052c.mp3
052d.mp3
NARA Description
On April 8, 1971, President Richard M. Nixon and the Council on International Economic Policy, including William P. Rogers, John B. Connally, Clifford M. Hardin, Maurice H. Stans, James D. Hodgson, George P. Shultz, Paul W. McCracken, Henry A. Kissinger, Carl J. Gilbert, David M. Kennedy, Rocco C. Siciliano, Deane R. Hinton, Donald A. Webster, C. Fred Bergsten, and Peter G. Peterson, met in the Cabinet Room of the White House from 10:40 am to 12:17 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 052-001 of the White House Tapes.
Nixon Library Finding Aid
Conversation No. 52-1
Date: April 8, 1971
Time: 10:40 am - 12:17 pm
Location: Cabinet Room
The President met with William P. Rogers, John B. Connally, Clifford M. Hardin, Maurice H.
Stans, James D. Hodgson, George P. Shultz, Paul W. McCracken, Henry A. Kissinger, Carl J.
Gilbert, David M. Kennedy, Rocco C. Siciliano, Deane R. Hinton, Donald A. Webster, C. Fred
Bergsten, and Peter G. Peterson
[Recording begins while the conversation is in progress]
Domestic briefing for administration wives
-Revenue sharing
Photograph of Council on International Economic Policy [CIEP] members
-Kissinger
-Location
-John D. Ehrlichman
-Timing
CIEP
-Origins
-Connally
-Purposes
-Jurisdiction
-Peterson’s role
-Hardin
-Rogers
-Procedures
-Membership
-Melvin R. Laird’s memo
-Limitation
-Kennedy’s role
-Trade policy
-Special assignments
Photographic session
-Timing
Foreign economics
-Adlai E. Stevenson, III
-Review of trendsShow the rest of the log (448 more lines)
-Options for United States
-Gross National Product shares
-United States
-European community
-Communist nations
-Underdeveloped countries
-Developed countries
-Japan
-United Kingdom
-Soviet Union
-Communist nations
-Eastern Europe
-China
-Reserves
-United States’ share
-European Economic Community
-Japan
-United Kingdom
-Soviet Union
-Exports
-United States
-European Economic Community
-United Kingdom
-Japan
-United Kingdom
-Underdeveloped nations
-Reserves
-Oil-producing countries
-Exports
-United States
-Importance
-Canada
-Foreign economics
-United States’ share
United States’ balance of trade
-Commerce Department study
-Categories
-Technological areas
-Non-technological areas
-Agriculture
-Agriculture
-Drop in workers
-Output increase
-Technological exports
-Aircraft
-Computers
-Nuclear reactors
-Motor vehicles
-Telecommunications
-Japanese advances
-Non-technology
-Categories
-Exports versus imports
-Growth in underdeveloped countries
-Motion picture industry
-California
-Connally
-Favorable industry
-Possible study
-Foreign share of non-technology
-Japanese competition
-Shoes
-Penetration
-Share of United States’ market
-Trade by country
-Canada
-Shift
-Agriculture
-Automobiles
-Negative
-American investment
-European Economic Community
-Franco Maria Malfatti
-Technology
-Agriculture
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w001]
[Duration: 12m 12s]
United States’ balance of trade
Japan
******************************************************************************
United States’ balance of trade
-Connally and Paul A. Volcker
-Income from United States’ companies abroad
-Growth
-Balance of payments
-United States’ investments abroad
-Liquidity problem
-Connally, Volcker concern
-Balance of payments
-Gilbert
-Current items
-United States’ assets abroad
-Strengths
-Vulnerabilities
-Underdeveloped countries
-Population problems
-Per capita growth
-United States’ per capita growth
-Increase of private investments
-Raw materials
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w002]
[Duration: 6s]
United States’ balance of trade
Japan
******************************************************************************
United States’ balance of trade
-United States’ investment abroad
-Increase
-Canada
-Europe
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w003]
[Duration: 15s]
United States’ balance of trade
-United States’ investment abroad
-Japan
******************************************************************************
United States’ balance of trade
-United States’ investment abroad
Japan
-Compared to domestic investment
-Concerns
-United States’ companies
Multinational corporations
-International Telephone and Telegraph
-Labor union concerns
-Trade implications
-Involvement of United States’ companies
-Commerce Department study
Productivity question
-Labor costs
-United Kingdom
-West Germany
-Japan
-Wage increases
Raw materials
-United States’ consumption
-Future imports
Research and Development
-Importance
-Great Britain’s program
-Need for encouragement
Japan
-Low-cost encouragement of development
-Article on Japan, Incorporated
-Policy questions
-Government involvement in international business
-Export promotion
-Cooperation
-People’s Republic of China, Taiwan
-Raw materials
-Agreement with Australia
-Labor
-Shultz
-Tied to productivity increases
-Absence of strikes
-Conglomerates
-Sony Com [?]
-Compared to United States’ companies
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w007]
[Duration: 34s]
Japan
-Foreign investment
******************************************************************************
Justice Department
-Anti-trust question
-Conglomerates
-United States’ policy compared with Japan’s
-Difficulties for United States’ companies
-Attitude towards big business
-Rogers
-President’s discussions with Connally
-Anti-trust Division
-Sherman Act
-Anti-trust laws
-Need for study
-Foreign policy implications
Business attitudes
-View of government-business relations in Japan
-Conglomerates
-President’s discussions with Connally
-Justice Department
-International trade
-View of administration policies
-Changes in business methods
-Balance of payments problem
-View of anti-trust enforcement
Justice Department
-Policies
-Rogers
-Anti-trust Division study
-Richard W. McLaren
-Anti-trust laws
-Possible need of change
-Small franchises
-Anti-trust Division
-Burger King
-Patents
-Need for anti-trust study
-McLaren
International trade
-Steel companies
-Voluntary export controls
-Cartels
-California banks
-Connally’s conversation with unknown banker
-Possible anti-trust suits
-World position of United States
Trade and legislative strategy
-Textiles and shoes
-Import quota bill
-Viable alternative
-1969 legislation
-Foreign economic initiative
-European Economic Community
-Japan
-Canada
-Trade
-Textiles and shoes
-Planning
-Need for adjustment assistance program
-Liberal policy
-Early warning system
-Stans and Hodgson
-Anti-trust aspects
-Acquisitions
-Vertical integration
-Overseas issues
-Incentives for investment
-Retraining
-Peterson’s conversation with John H. Burns
-Community assistance
-Management assistance
-Policy questions
-Domestic and foreign competition
-Need for differentiation
-Complexity of process
-Need for experimentation
-Liberal trade policies
-Need for stronger constituencies
-Reaction to fears
-Soybean people
-Clifford M. Hardin
-Need to build constituencies
-Industries
-Consumers
-Industrial tariffs
-Common market
-Agriculture
-Price support question
-Political rationale
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w004]
[Duration: 35s]
Trade and legislative strategy
-New Zealand
******************************************************************************
-Non-tariff barriers
-Trade and investment restrictions
-Japan
-Economic blocs
-United States’ policy considerations
-Most-favored nation agreements
-Implications
-Monetary unions
-European Economic Community
-Trade
-Income and employment
-Agriculture in Europe
-Common Market
-Sicco L. Mansholt
-Increase in efficiency
-Higher demand for products
-Self-sufficiency
-Population in Europe
Foreign investment
-United States’ exports compared to United States’ investments abroad
-Policy considerations
-International corporations
-Possible international investment code
-Connally
-Tax and anti-trust provisions
-Transfer of technology
-Monitoring of agreements
-International corporations
-Views of organized labor
International monetary policy
-Connally’s and Volcker’s role
-Balance of payments policy
-European monetary union
Competitive position of United States
-Inflation and productivity
-Stimulation of research and development
-Effect of space program
-Technology and the industrial sector
Raw materials and energy position of United States
-President’s forthcoming plan
-Stans’ efforts
-Need for research and development
-Foreign policy aspects
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w005]
[Duration: 16s]
Raw materials and energy position of United States
-Middle East
******************************************************************************
-Nuclear reactors
-Supersonic Transport
Export promotion
-Financing and tax strategies
-Japan
-New United States government/business relations
-Anti-trust aspects
-New business relationships
-Japanese made
-Connally’s paper
-Cooperation with United States’ allies in economic spheres
-United States’ economic interests and foreign policy
Photo session
-Vice President Spiro T. Agnew
Kennedy’s forthcoming trip
-Japan
-Europe
-CIEP members
Subject discussed at meeting
-Priorities
-Proposals
Franco Mario Malfatti
Photo session
-Stephen B. Bull
Malfatti entered at 12:00 pm
******************************************************************************
[This segment was declassified on 02/28/2002.]
[National Security]
[052-001-w006]
[Duration: 4m 14s]
******************************************************************************
[Previous archivists categorized this section as unintelligible. It has been rereviewed and
released 04/25/2019.]
[Unintelligible]
[052-001-w009]
[Duration: 1m 40s]
The President
End of photo session
******************************************************************************
First Council on International Economic Policy [CIEP] meeting
-Canada
-George P. Shultz
-Carl J. Gilbert
-Peter G. Peterson’s talk
-Paul A. Volcker
******************************************************************************
******************************************************************************
[Previous archivists categorized this section as unintelligible. It has been rereviewed and
released 04/25/2019.]
[Unintelligible]
[052-001-w008]
[Duration: 1m 13s]
The President’s schedule
George P. Shultz
******************************************************************************
The President, et al. left at 12:17 pmTranscript (AI-generated)
No transcript is available yet for this conversation.
Also recorded on April 8, 1971
- 475-012 9:08 AM · 5 min — President Richard M. Nixon and Rose Mary Woods met in the Oval Office of the White House from 9:08 am to 9:13 am.
- 475-013 9:13 AM · 3 sec — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at an unknown time between 9:13 am and 9:18 am.
- 475-014 9:13 AM · 48 sec — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at an unknown time between 9:13 am and 9:18 am.
- 475-015 9:13 AM · 16 sec — President Richard M. Nixon and the White House operator met in the Oval Office of the White House at an unknown time between 9:13 am and 9:18 am.
- 475-016 9:18 AM · 54 min — President Richard M. Nixon, Henry A. Kissinger, Rose Mary Woods, Adm. Thomas H. Moorer, Stephen B. Bull, and H. R. ("Bob") Haldeman met in the Oval Office of the White House from 9:18 am to 10:07 am.
- 475-017 10:07 AM · 13 min — President Richard M. Nixon and Peter G. Peterson met in the Oval Office of the White House from 10:07 am to 10:20 am.
- 052-002 12:17 PM · 49 min — unknown person(s) met in the Cabinet Room of the White House at an unknown time between 12:17 pm and 1:04 pm.
- 052-003 12:17 PM · 49 min — Alexander M. Haig, Jr. and Douglas MacArthur, II met in the Cabinet Room of the White House at an unknown time between 12:17 pm and 3:56 pm.
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- Nixon, Allen & Williams on International Trade and Economic Competitiveness September 13, 1971 · 39 min
- Nixon, Haldeman & Stans on Business-Government Relations April 12, 1971 · 51 min
- Nixon, Ehrlichman & Shultz on Antitrust Policy and ITT Corporation April 19, 1971 · 31 min
- Nixon, Haldeman & Mitchell on Anti-war protests and Political strategy April 21, 1971 · 1 hr 53 min
- Nixon, Shultz & Ehrlichman on Revenue Sharing and Welfare Reform May 11, 1971 · 1 hr 56 min
Cite this conversation
Conversation 052-001, April 8, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives (NAID 417174135). Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/052-001 (accessed October 29, 2026).