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‘Optimistic Trade Forecasts Usher in Chicago\'s Machine Tool Show

by:QY Precision      2019-12-25
1974 this is a digital version of an article from The Times Print Archive, before it starts online in 1996.
To keep these articles as they appear initially, the Times will not change, edit, or update them.
There are occasional copywriting errors or other problems during the digitization process.
Please send a report of such issues to archid_feedback @ nytimes. com. CHICAGO, Sept. 4—
Business minister Frederick B.
Deng said today that he expects Congress to pass a favorable trade bill this year to approve the Soviet Union\'s \"most popular country\" status before the planned midway recess, this month, the import and export bank was awarded a new charter.
His optimism was echoed today at a press conference before the opening of 1974 International Machine Tool Exhibition. Geier Jr.
President of the National Association of machine tool manufacturers. Mr.
Geier, chairman of Cincinnati miralong company
He said he believed that the articles of association of the Export-Import Bank would be extended \"more likely than even \".
\"If not, it will have a very broad impact on all exports,\" he added . \".
Answer a question, sir.
Deng said the Commerce Department had submitted specific economic proposals to President Ford.
The president will meet with key economists in Washington tomorrow to discuss how to fight inflation and tackle other problems that plague the economy.
One more question, sir.
Deng said he expected a meeting of the 14-country coordination committee later this fall, with some liberalization on the strategic material list.
These materials are subject to export control.
The Commerce Department sees the international trade show as a big deal in its plan to bring foreign buyers together with American manufacturers.
About 10,000 foreign visitors are expected to attend the 10-day exhibition, which occupies about 500,000 square feet of space at the International Amphitheater and McCormick square.
This year, for the first time, advertisements have shown two-way streets with foreign machine tool manufacturers, encouraged by business and national departments to display and purchase American-made products.
Of the 225,000 square feet footprint, 150,000 is for household products, 125,000 is for non-US machine tools, and the rest is for accessories, services and equipment.
For the first time, there were machine tools from the Soviet Union, Romania, Poland, the Czech Republic, Hungary and East Germany.
Exhibitions from West Germany, Japan, the United Kingdom and Italy take up 111,000 square feet of space.
According to the US Department of Commerce, the total sales of machine tools produced in the United States reached $1 in 1973.
That includes US dollar export sales.
The total purchase is $1.
Including US dollars for imported equipment.
The largest delegation was from Brazil, with a total of 300 executives on two charter flights.
A machine tool exhibition is planned to be held in November.
In cooperation with the Ministry of Commerce, 10 to 1975 meetings were held in Sao Paulo.
A representative from RumaanI Iran has made suggestions to the officials of the exhibition to hold an international exhibition in their country before the next scheduled 1976 exhibition. Mr.
Dent highlighted his belief that \"one of our major shortcomings today is to increase productivity to meet the growing shortage in the list of projects.
He pointed out that the machine tool industry is one of the few industries that can show shipments and orders \"far ahead of last year\" today.
This does reflect a bright spot in the economy.
\"By using direct digital control, productivity seems to be increased than the program (DNC)
Or more complex computer digital control (CNC)
For machine tools.
In many ways, the exhibition space is more like a computer industry exhibition, where mainframe beds are operated by tapes and computers.
The logo of most booths emphasizes \"DNC\" or \"CNC\" functions.
Most people related to the industry are optimistic about their prospects, as the oil, farm equipment and environmental control industries are increasingly interested in new machine tools.
In addition, as the shortage of metals and other materials increases, industries such as automobiles and appliances will need new machine tools to replace materials.
A version of the file was printed on page 51 of the New York edition on September 5, 1974, titled: \"the Chicago Machine Tool Fair ushered in an optimistic trade forecast.
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