US Presidency
1961

We can, over the next few years, offset with the help of our Allies a billion dollars, as I have said, of our $ 3 billion overseas defense outlays; reduce, with the help of the Congress, the money which goes because of tax advantages; cut back still further that portion of our foreign aid procurement which is not already spent here; and take the other steps I have mentioned, including an increase in our exports, for which all the additional tools we need are well within our reach. One of those tools -one which we urgently need for our own well being is a new trade and tariff policy. The Reciprocal Trade Agreements Act expires in June of next year. It must not simply be renewed it must be replaced.