US Presidency
1961

But if American industry can not increase its sales to the Common Market, and increase this nation's surplus of exports over imports, our international payments position and our commitments to the defense of freedom will be endangered. If American businessmen can not increase or even maintain their exports to the Common Market, they will surely step up their investment in new Chamber the plants behind those tariff walls so they can compete on an equal basis thereby taking capital away from us, as well as jobs from our own shores, and worsening still further our balance of payments position. If American industry can not increase its outlets in the Common Market, our own expansion will be stifled the growth target of 50 % in the sixties, adopted last month by the 20 nations of OECD for their combined gross national product, will not be reached and our business community will lack the incentives to lower prices and improve technology which greater competition would otherwise inspire.