At Moscow on June 29 President Nixon joined with Soviet leader Brezhnev in signing a ten-year pact. Building upon the three-year commercial agreement of October, 1972, between the two countries, the pact proposed the further promotion of Soviet-American comrfierce by providing a framework for the discovery of new economic opportunities and the fostering of trade activities, including cooperation by American and Soviet organizations in joint enterprises.

In assessing the prospects of Soviet-American trade relations, it is essential to consider carefully the world economic situation, the Soviet Union's role as a world trader, and also the stance of the United States vis-à-vis the contemplated commerce.