Nixon White House Tapes › Tape 499 › Conversation 499-001

Nixon, Kennedy & Peterson on International trade and Textile negotiations

Wednesday, May 12, 1971 · 4:29 PM–5:27 PM ET · Oval Office · 4 min

ParticipantsNixon, Richard M. (President); Kennedy, David M.; Peterson, Peter G.Conversation499-001 on Tape 499 (tape position 00:00:46–00:04:52)StartWednesday, May 12, 1971 at 4:29 PMEndWednesday, May 12, 1971 at 5:27 PMRecording deviceOval OfficeSourceNixon Library record for 499-001 ↗

AI Summary

President Nixon met with David M. Kennedy and Peter G. Peterson to discuss international trade negotiations and domestic economic performance. The group reviewed the status of textile negotiations involving Japanese Minister Takeo Fukuda and analyzed updated first-quarter Gross National Product (GNP) figures. The participants noted that the upwardly revised GNP data, scheduled for public release that Friday, represented positive economic news for the administration.

Audio

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Transcript (AI-generated)

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.

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By stepping up the payments, they've shortened them a year, and they've increased the down payments, so it about balances out.
And I'm willing to call it quits for another reason.
I did this for helping on the textiles with Bakuda.
Now, this is double dealing, but I think it's good dealing.
Sounds alright.
I know you've done other stuff.
I haven't.
I don't want to talk about that.
I don't want to have to do this to me.
As a matter of fact, that's about the, uh, the, uh, revival of GNP that you hear.
They revised it up.
It's going to come out Friday.
It's 30.8 in the first quarter rather than 28.5.
That's news.
So that's good news.
It's 33, but that's a down close in the ballgame.
Yes, that's all right.
We don't mind.
I'm afraid that if you get it too fast to start with, you'll have to be up to.
So, uh,
We were glad to hear it.
Good luck.

NARA Description

On May 12, 1971, President Richard M. Nixon, David M. Kennedy, and Peter G. Peterson met in the Oval Office of the White House at an unknown time between 4:29 pm and 5:27 pm. The Oval Office taping system captured this recording, which is known as Conversation 499-001 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 499-1

Date: May 12, 1971
Time: 4:29 pm - unknown before 5:27 pm
Location: Oval Office

The President met with David M. Kennedy and Peter G. Peterson; the recording begins at an
unknown time while the meeting is in progress; discontinuities appear in the original recording.

     International trade
           -Textile negotiations with Takeo Fukuda

******************************************************************************

[Previous non-historical (H) withdrawal reviewed under deed of gift 06/10/2019. Segment
cleared for release.]
[Non-Historical]
[499-001-w001]
[Duration: 2m 52s]

[Machine malfunction no conversation was recorded.]

******************************************************************************

     National economy
          -Gross National Product [GNP] for first quarter
                -Release date
                -Significance
          -Another economic indicator

     Farewells

The conversation was cut off at an unknown time before 5:27 pm.

                                                                  Conversation No. 499-2/ 498-1

Date: May 12, 1971

Time: 5:28 pm - unknown before 6:03 pm
Location: Oval Office

The President met with H.R. (“Bob”) Haldeman; the recording begins while the meeting is in
progress.

     Gerald R. Ford
          -Previous conversation with President
                -Hugh Scott
                -Robert P. Griffin
          -Supersonic Transport [SST] vote

     House of Representatives votes, May 12, 1971
         -Welfare reform

[The President talked with the White House operator at an unknown time between 5:28 pm and
5:29 pm]

[Conversation No. 499-2A]

[See Conversation No. 3-25]

[End of telephone conversation]

     House of Representatives votes

     John A. Scali
          -Previous conversation with Henry A. Kissinger
          -Views and activities
               -Michael J. (“Mike”) Mansfield Amendment
                     -Kissinger
               -North Atlantic Treaty Organization [NATO]

     Mansfield Amendment regarding NATO
         -President's possible actions
         -President's schedule
               -Scali meeting

     Public relations
           -Scali's role
[The President talked with Leslie C. Arends between 5:29 pm and 5:31 pm]

[Conversation No. 499-2B]

[See Conversation No. 3-26]

[End of telephone conversation]

     [Unintelligible]
                                                                 Conv. No. 499-2/498-1 (cont.)
Stephen B. Bull entered at 5:31 pm.

     George P. Shultz's schedule [?]

     John D. Ehrlichman's schedule

Bull left at 5:32 pm.

The President talked with Frank T. Bow between 5:32 pm and 5:33 pm.

[Conversation No. 499-2C/498-1A]

[See Conversation No. 3-27]

[End of telephone conversation]

[The remaining portion of this conversation was recorded intermittently with Conversation No.
498-1]

     President's forthcoming speech on foreign policy
           -Previous State of Union speech
                 -Revenue sharing
                 -Government reorganization
                 -"New American Revolution"
           -1972 State of the Union speech

[The President talked with the White House operator at an unknown time between 5:33 pm and
5:41 pm]

[Conversation No. 499-2D]

[See Conversation No. 3-30]

[End of telephone conversation]

     Peterson
           -Raymond K. Price, Jr.
           -Patrick J. Buchanan
           -William L. Safire

[The President talked with John B. Connally between 5:41 pm and 5:45 pm]
                                                                Conv. No. 499-2/498-1 (cont.)
[Conversation No. 499-2E]

[See Conversation No. 3-32]

[End of telephone conversation]

           -Georgia

Ehrlichman entered at an unknown time after 5:41 pm.

     Paul W. McCracken

The conversation was cut off at an unknown time before 6:03 pm.

Also recorded on May 12, 1971

  • 003-017 4:10 PM · 6 sec — President Richard M. Nixon, White House operator, and Henry A. Kissinger talked on the telephone at an unknown time between 4:10 pm and 4:17 pm.
  • 003-018 4:17 PM · 11 sec — President Richard M. Nixon and the White House operator talked on the telephone at 4:17 pm.
  • 003-019 4:17 PM · 1 min — President Richard M. Nixon, White House operator, and unknown person(s) talked on the telephone at an unknown time between 4:17 pm and 4:24 pm.
  • 003-020 4:24 PM · 9 sec — President Richard M. Nixon and the White House operator talked on the telephone at 4:24 pm.
  • 003-021 4:24 PM · 5 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 4:24 pm and 4:30 pm.
  • 003-022 4:24 PM · 8 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 4:24 pm and 4:30 pm.
  • 003-023 4:30 PM · 2 min — President Richard M. Nixon and Gerald R. Ford talked on the telephone from 4:30 pm to 4:32 pm.
  • 003-024 4:32 PM · 8 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 4:32 pm and 5:28 pm.

All 37 conversations from May 12, 1971 →

Cite this conversation

Conversation 499-001, May 12, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/499-001 (accessed September 28, 2026).