Ford Trudeau meet an oil cut
Canadian Prime Minister Pierre Elliott Trudeau told President Ford Canada would cut oil exports to the United States with room for negotiation on specifics. The two discussed the plan during a two hour White House meeting, with officials noting full consultation before cuts. Trudeau invited Ford to visit Canada, and both voiced a positive tone about the talks.
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World shortages spark strikes from Italy to Britain
News report notes about 14 million Thai workers and three quarters of the labor force refused to work in Thailand and Britain on a day of strikes over inflation and living costs. Italian industry and commerce halted as 33,000 bakery workers joined a nationwide stoppage. In Britain bread lines grew as shoppers faced shortages, with Harrods guarding loaves and wealthier shoppers queuing. The European market sought sugar imports to ease Britain’s shortage while India warned of export earnings dipping to pay for essentials. Economic forecasts warned of a possible world recession amid weak growth in the US and Japan.
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