Democratic Party Platform of 1968

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Foreign Trade and Financial Policy

World trade is essential to economic stability. The growing interdependence of nations, particularly in economic affairs, is an established fact of contemporary life. It also spells an opportunity for constructive international cooperation that will bring greater well-being for all and improve the prospects for international peace and security.

We shall build upon the Trade Expansion Act of 1962 and the Kennedy round of trade negotiations, in order to achieve greater trade cooperation and progress toward freer international trade. In future negotiations, which will require careful preparation, we shall: 1) seek continued reciprocal reduction and elimination of tariff barriers, based on the most favored nation principle; 2) negotiate the reciprocal removal of non-tariff barriers to international trade on all products, including agriculture; 3) give special attention to the needs of the developing countries for increased export earnings; and 4) develop and improve the rules governing fair international competition affecting both foreign commerce and investment.

To lessen the hardships suffered by industries and workers as the result of trade liberalization, we support improvements in the adjustment assistance provisions of present law. Provision of law to remedy unfair and destructive import competition should be reviewed and strengthened, and negotiated international agreements to achieve this purpose should be employed where appropriate.

The United States has experienced balance-of payments deficits for over a decade, mainly because of our security obligations in the free world. Faced with these deficits, we have behaved responsibly by avoiding both economic deflation at home and severe unilateral restrictive measures on international transactions, whichwould have weakened the international economy and international cooperation.

We shall continue to take the path of constructive measures by relying on steps to increase our exports and by the development of further cooperative arrangements with the other countries. We intend, as soon as possible, to dismantle the restrictions placed on foreign investment and finance, so that American free enterprise can play its full part as the agent of economic development. We will continue to encourage persons from other lands to visit America.

Steps of historical importance have already been taken to improve the functioning of the international monetary system, most notably the new special drawing rights under the international monetary fund. We shall continue to work for the further improvement of the international monetary system so as to reduce its vulnerability to monetary crises.

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Chicago: "Foreign Trade and Financial Policy," Democratic Party Platform of 1968 in Donald B. Johnson, Ed. National Party Platforms, 1840–1976. Supplement 1980. (Champaign-Urbana: University of Illinois), Pp.727-728 728. Original Sources, accessed August 7, 2022, http://www.originalsources.com/Document.aspx?DocID=3WLSBTWX117RNUT.

MLA: . "Foreign Trade and Financial Policy." Democratic Party Platform of 1968, in Donald B. Johnson, Ed. National Party Platforms, 1840–1976. Supplement 1980. (Champaign-Urbana: University of Illinois), Pp.727-728, page 728. Original Sources. 7 Aug. 2022. http://www.originalsources.com/Document.aspx?DocID=3WLSBTWX117RNUT.

Harvard: , 'Foreign Trade and Financial Policy' in Democratic Party Platform of 1968. cited in , Donald B. Johnson, Ed. National Party Platforms, 1840–1976. Supplement 1980. (Champaign-Urbana: University of Illinois), Pp.727-728, pp.728. Original Sources, retrieved 7 August 2022, from http://www.originalsources.com/Document.aspx?DocID=3WLSBTWX117RNUT.