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Article: Trade between the United States and Eastern Europe. (includes related article)
- Article from:
- Federal Reserve Bank of St. Louis Review
- Article date:
- July 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Federal Reserve Bank of St. Louis. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THROUGHOUT MOST OF THE post-World War II era, trade between the United States and Eastern Europe was minuscule. The United States maintained high tariff barriers on imports from most Eastern European countries and also restricted its own exports to these countries. In particular, the United States prohibited the export to these countries of high-technology goods related to national security interests. Eastern Europe also maintained various trade restrictions on imports from the United States. Most Eastern European trade was controlled by the state and conducted within the Council for Mutual Economic Assistance (CMEA), the trade organization of the Soviet bloc countries.
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