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Show 1 12 PepsiCo chairman decries lack of trade with Soviets Hundreds of thousands of potential U.S. jobs and several billion dollars of trade a year are being lost to this country because of artificial restraints placed on U.S. Soviet trade, PepsiCo Chairman Donald M. Kendall said in Salt Lake Thursday. Speaking at the 75th annual membership meeting of the Salt Lake Area Chamber of Commerce, held at the Hotel Utah, Kendall said it is -- Casting McCarty by Model in the best interests of the United States and the world to increase trade between the two nations. An outspoken advocate of better relations with the Soviets. Kendall blamed Congress and special interest groups for stifling increased trade with Russia. Trade w'ith Russia emerged in 1972 as a major element of the new policy of detente Kendall said, and after several months of negotiations, the 1972 trade agreement with Russia was written. Under the agreement, the United States agreed to grant the Soviets most favored nation status and normal access to Export-Impo- rt Bank credits. The Russians agreed to provide greater access to their markets and to avoid foreign market disruption as a result of their exports. "Im sure you know the rest of the story: ber 1974 the so-call- ed in DecemJack-son-Van- ik Amendment tied the granting of most favored nation status to the Soviets emigration policy. said Kendall. An unlikely collection of but misguided, special interest groups were able to coalesce around support of the amendment which Sen. Jackson skillfully ex well-meanin- g, ploited to further his own presidential aspirations. Kendall said the Soviets then felt the U.S. had reneged on the terms of the 1972 trade agreement. There are a host of sound reasons why it makes good economic sense for the United States to expand its trade with the Soviets, said Kendall. First, is the matter Continued on page 21 ft |