Nixon White House Tapes — Conversation 016-111
Date: Saturday, December 18, 1971 at 1:40 PM
Participants: Nixon, Richard M. (President); Connally, John B.
Recording device: White House Telephone
Source: https://www.easynixon.org/tapes/016-111

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:00] Hello.
[0:05] Hello, John.
[0:06] I just want to tell you that I think you're doing fine.
[0:12] I think you can't really expect great events like this to be shaped as fast as we would like.
[0:19] But just hold tight.
[0:22] It would seem to me, I'll be here until 5.40 in case you still want me to go along.
[0:29] I'll be here in the office, so I'll be ready to come over or not come over.
[0:34] We should know about 4 or 4.30 at the latest, Mr. President.
[0:39] It's not going to hold much longer.
[0:41] I've been talking around there.
[0:42] Everybody's on edge, everybody's tense, everybody's tired.
[0:47] We were at it till 11.30, 11 o'clock last night.
[0:50] I know, I know.
[0:53] And if we can't do it in the next couple of hours, I don't think we can do it.
[0:56] That's the whole purpose.
[0:56] I'd keep them here if I thought we could do it, but if we can't put it together in another couple of hours, I don't think we can.
[1:02] I think the important thing, if you don't, then, is to come out with as positive a statement as you can about the future.
[1:08] How did you plan to do that?
[1:09] Well, we just put out a statement from the group and not involve you at all, I would think, and just say that we've made very substantial progress.
[1:18] That's right.
[1:19] We came close to a settlement and hope that...
[1:22] perhaps with the changing events and the passage of a bit more time that problems can be resolved where we can reach a final solution or something.
[1:32] You could say we've come very close together.
[1:34] We have substantially reduced the differences that we had from the previous meeting.
[1:40] We're very close together and so forth.
[1:45] And then would you announce at this time, Marv, when you're going to call another meeting?
[1:51] Yes, I would.
[1:52] And that you would have another meeting?
[1:53] In the middle of January.
[1:54] In the middle of January.
[1:57] About the 15th.
[1:59] There's still a chance we can put this together.
[2:01] Right.
[2:02] Right.
[2:03] We've got four hang-ups, one of which we know Canada has been an absolute bastard.
[2:07] But we knew that, so that's a problem, really.
[2:10] So let's just leave them out, huh?
[2:12] Yes.
[2:13] We'll have to leave them out.
[2:14] But, you know, this materially affects what we're going to get out of it.
[2:17] Because of the amount of trade, yeah.
[2:20] Sure, yeah.
[2:20] Well, we'll have to just handle the Canadians in a different way, won't we, John?
[2:24] Yes, sir.
[2:25] And by golly, we will.
[2:26] I mean, they want to be this way.
[2:27] That's what I told them this morning.
[2:30] If you want to work out your problems with us, that's fine.
[2:33] We'll play by any rules you want to play by.
[2:35] But you see, in terms of the way the whole works, I think making the deal with the Europeans and the Japanese is going to have enormous significance, you know what I mean?
[2:43] And people will figure we ought to do the Canadians separately.
[2:46] We've got the Japanese up to 60.
[2:48] We're trying to get them to 17.
[2:50] Well, you've done awfully well to get them to 16-1.
[2:53] I know how tough they are.
[2:54] I think we can get them to 17 or get them close to it.
[2:57] And if we can, we'll take it.
[2:58] That's right.
[2:59] Now, the hang-up now is two things.
[3:01] the Germans have to go to five.
[3:03] The French are adamant about the five.
[3:06] And I think they ought to go to five, and I think they will go to five.
[3:09] Schiller, I think, is trying to call Brant to go 5% above the French.
[3:13] The French will be zero, you see, and the Germans have to be 5%.
[3:16] Sure, I understand.
[3:18] That's what they ought to be.
[3:20] Now, the Italians, of course, are screwed up because of their election.
[3:25] Yes, and the Italians are...
[3:27] Apparently, we can't move them, so...
[3:29] If we can get these other things solved, what we'll do, we'll just all put the pressure on the Italians and in effect make them agree to
[3:40] say that at least they'll do nothing right now, and then they'll take under advisement what course they may take.
[3:44] And, hell, with the understanding, you know, two or three weeks from now, they may devalue by a couple of points.
[3:50] Yeah.
[3:51] I think, as a matter of fact, with them, my own view is this.
[3:55] I think it would be very positive.
[3:56] I don't think it's going to be looked upon as a defeat at all for us.
[4:01] Well, let me put it another way.
[4:03] I think what we got from the French, that is, starting with that, was more than a hell of a lot of people thought we were
[4:09] Second, I think that if you can get the Germans on top of that, that's 13.
[4:14] That's a hell of an achievement.
[4:15] And I think, frankly, I think if you can get 16 1⁄2 from the Japanese, that's more than a lot of people thought is possible.
[4:23] That's right.
[4:24] People have been talking in terms of 19 and all the rest, but they know that's a going-in proposition, don't they?
[4:30] That's right.
[4:31] And doesn't 16 1⁄2, isn't that going to help a lot?
[4:36] Yeah, sure.
[4:37] Yeah.
[4:38] You can try to get more.
[4:42] Now on the trade front there, I think what you can really expect, I've been thinking about that and knowing
[4:50] what is possible and what isn't.
[4:51] It seems to me all you can really do is to set in motion the process on trade.
[4:56] Well, we can't get it done.
[5:00] They can't agree on that, but we can say we've agreed that we will move forward on the trade front, and that's to be negotiated.
[5:06] What we're saying to them is you must have the trade agreements negotiated by the time we go to Congress on January the 20th.
[5:13] If you don't, we have committed ourselves to the legislative leaders that we would have something on trade to give them at that time.
[5:23] So that's all we can say.
[5:24] Right.
[5:25] And then hope for the best.
[5:26] Well, anyway, I won't hold you, but I'll be here.
[5:29] We'll try to wrap it up in the next couple of hours.
[5:32] Sure.
[5:32] Okay, I'll be here.
[5:33] Bye.