This paper, a statement to the House Subcommittee on International Cooperation in Science and Space, addresses three questions: Should U.S. policy control of high-technology exports to the Soviets be changed? Is there a need to initiate policy action on technology exchange to encourage the import of technology from the USSR? How large is the Soviet capacity to pay, what are the prospects, and what implications do they suggest? The author's view is: (1) We should be more concerned with what we can get in return than with whether to relax controls. (2) We should identify those areas in which we can benefit from Soviet technology and facilitate its import in those cases. (3) We should seek (a) current payment, rather than deferred payment through "buy-back" arrangements; (b) more incentives for the Russians to use their gold stocks and production to provide current liquidity; and (c) higher prices for what is exported. In general, the author believes that expanded technology exchange and trade with the Soviet Union are desirable. 6 pp.