In a shocking move that has left the nation’s aluminum industry reeling, four major aluminum organizations have proposed a secret system of import curbs. The plan, expected to kick off in 1963 and run for at least five years, would guarantee foreign aluminum producers their current share of the US market, as well as a larger slice of any future expansion. In return, the United States would secure guaranteed access to foreign markets for specific quantities of aluminum products. The proposal, not yet formally approved by government officials, was announced by the Aluminum Association, the American Aluminum Association, the Aluminum International Trade Association, and the American Metal Market.
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Key Facts
- State: National
- Category: Public Corruption
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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