Jimmy Hoffa influence and control after 1967, to Hoffa's displeasure. Fitzsimmons also decentralized power somewhat within the IBT's administration structure, forgoing much of the control Hoffa took advantage of as union president. On December 23, 1971, less than five years into his 13-year sentence, Hoffa was released from prison when President Richard Nixon commuted his sentence to time served. Following his release, Hoffa was awarded a Teamsters' pension of $1.7 million, delivered in a one-time lump sum payment. This type of pension settlement had not occurred before with the Teamsters. The IBT then endorsed President Nixon, a Republican, in his presidential re-election
Foreign trade of the Soviet Union that increased borrowing to pay for imports from the West would lead to dependence on international lending institutions. Trade between the United States and the Soviet Union averaged about 1 percent of total trade for both countries through the 1970s and 1980s. Soviet-American trade peaked in 1979 at US$4.5 billion, exactly 1 percent of total United States trade. The Soviet Union continuously ran a trade deficit with the United States in the 1970s and early 1980s, but from 1985 through 1987 the Soviet Union cut imports from the United States while maintaining its level of exports to balance trade between