U.S.-Soviet Trade Talks On Despite Lithuanian Crisis
The United States and Soviet Union will go ahead with a new round of trade talks here next week despite U.S. threats of retaliation after Moscow cut Lithuania’s fuel supplies, U.S. and Soviet diplomats said today.
The countries are trying to reach a trade accord that is needed before Washington can grant Moscow most-favored nation trade status. The Kremlin is hoping that Washington will grant it the favored status at a superpower summit from May 30 to June 3 in the United States.
To punish Moscow for curbing emigration, especially by Soviet Jews, Washington denied the Soviet Union favored status in 1974 under the Jackson-Vanik Amendment passed by Congress.
Most-favored status would slash U.S. duties on Soviet imports and could open the door to U.S. credits, moves that could boost two-way trade valued at $4.9 billion last year.
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