Nixon White House Tapes › Tape 126
Nixon White House Tape 126 (June 13, 1973 – June 19, 1973)
3 conversations · Cabinet Room · about 3 hr 12 min of released audio
Featuring Nixon, Shultz, Agnew, Ash, Stein
President Nixon met with his Vice President, Cabinet members, and senior staff to announce the implementation of a 60-day price freeze as part of a strategy to combat inflation. He explained that this measure, aimed at stabilizing food and gasoline prices, was a necessary pragmatic step to preempt more extreme, mandatory controls favored by Congress. Nixon emphasized his commitment to maintaining a free-market economy and tasked his Cabinet with actively promoting this policy to the public and opinion makers. He also highlighted the administration's broader accomplishments in foreign policy, including the end of the draft and the upcoming U.S.-Soviet summit.
President Nixon met with Vice President Agnew, cabinet members, and a bipartisan group of Congressional leaders to announce an upcoming economic policy address and discuss the administration's new strategy to combat inflation. The President detailed a 60-day price freeze—excluding wages and raw agricultural products—and sought legislative assistance regarding export controls on food and gasoline supply allocations. Additionally, the President arranged for key Congressional leaders to receive ongoing briefings from administration officials during the upcoming summit with Soviet leader Leonid Brezhnev to ensure better oversight of the resulting agreements.
President Nixon, Soviet General Secretary Leonid Brezhnev, and key members of their diplomatic and economic teams met to discuss the expansion of U.S.-Soviet trade and the challenges of integrating two distinct economic systems. The conversation focused on large-scale, long-term projects in the energy sector—specifically oil and gas—and the necessity of institutionalizing economic cooperation through trade missions and working groups. Participants acknowledged that while political will is high, practical implementation requires navigating complex issues of financing, pricing, and administrative differences between American private enterprise and the Soviet state-controlled economy.