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In 1987, total trade between the United States and the Soviet Union amounted to US$2 billion. The Soviet Union exported chemicals, metals (including gold), and petroleum products in addition to fur skins, alcoholic beverages, and fish products to the United States and received agricultural goods—mostly grain—and industrial equipment in return.
The United States had long linked trade with the Soviet Union to its foreign policy toward the Soviet Union and, especially since the early 1980s, to Soviet human rights policies. The Jackson-Vanik Amendment , which was attached to the 1974 Trade Act , linked the granting of most-favored-nation to the USSR to the right of persecuted Soviet Jews ...
The Soviet Union shifted to receiving grain from other sources such as by increasing imports from its second highest import partner, Argentina. The sources included most of South America such as Venezuela and Brazil. The Soviet Union still received grain from the United States with regard to the grain agreement in 1973 between the two countries.
In July 1973, the Soviet Union purchased 10 million short tons (9.1 × 10 ^ 6 t) of grain (mainly wheat and corn) from the United States at subsidized prices, which caused global grain prices to soar. Crop shortfalls in 1971 and 1972 forced the Soviet Union to look abroad for grain.
Amtorg Trading Corporation, also known as Amtorg (short for Amerikanskaya Torgovlya, Russian: Амторг), was the first trade representation of the Soviet Union in the United States, established in New York in 1924 by merging Armand Hammer's Allied American Corporation (Alamerico) with Products Exchange Corporation (Prodexco) and Arcos-America Inc. (the U.S. branch of All Russian Co ...
These discussions between the Soviet Union and the United States led to cooperation in three areas: weather data and future meteorology-related launches, the mapping of the geomagnetic field of the Earth, and the relay of communication. [143] The reaction to the United States landing the first humans on the Moon in the Soviet Union was mixed ...
The Lacy-Zarubin Agreement, also known as the Agreement Between the United States of America and the Union of Soviet Socialist Republics on Exchanges in Cultural, Technical, and Educational Fields, [1] was a bilateral agreement between the United States and the Soviet Union on various fields including film, dance, music, tourism, technology, science, medicine, and scholarly research exchange.
The Soviet economy was second only to the United States and was characterized by state control of investment, prices, a dependence on natural resources, lack of consumer goods, little foreign trade, public ownership of industrial assets, macroeconomic stability, low unemployment and high job security.