Word: auto
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...trade deficit with Japan: $22 billion in 1983, $37 billion last year, more than $40 billion expected this year. As Congress looked on with dismay, U.S. negotiators reported little headway in prying open Japanese markets. Then Japan delivered the coup de grace, announcing a stunning 24% increase in auto exports to the U.S. this year, after the Reagan Administration had removed "voluntary" quotas. That ill-advised move prompted both houses of Congress last week to threaten trade retaliation against America's largest overseas commercial partner...
Congress was fighting mad too, but for a slightly different reason. In announcing that it will maintain auto quotas, the Ministry of International Trade and Industry said it will raise the ceiling 24%, to 2.3 million vehicles a year. Angered Senators responded by voting 92 to 0 for a so-called trade war resolution that calls on Reagan to take all appropriate action to persuade Japan to remove barriers to American products. The only objections before the vote on the nonbinding measure came from legislators who argued that it was not strong enough. Said Montana Democrat Max Baucus: "I want...
Dozens of states, cities, unions, and churches have divested their monies from South African holdings. This group includes Connecticut, Massachusetts, Boston, Maryland, New York, the United Auto Workers, Ohio University, Michigan State, Wesleyan the University of Massachusetts, and the Harvard Law Review. Taking a stand against Harvard's investment assumes primary importance now because it is only President Bok's personal campaign against divestment which has conferred any legitimacy at all on the untenable and fading proposition that universities should not care where these invest...
...Auto companies, which oppose air bags because they cost about $800, are lobbying furiously to promote the seat-belt legislation. Insurance firms, though, say air bags save lives, and have sued the Transportation Department in federal court. Their argument: Dole cannot delegate the setting of national auto-safety regulations to the states...
...friend, a man I have a great respect for, and a man I think I can work comfortably with." Nor has Brock's record as Trade Representative been completely inimical to labor. While he argued strongly for free trade, Brock nevertheless negotiated voluntary import restrictions with foreign auto and steel producers. Nevada Senator Paul Laxalt summed up Brock's assets with the observation: "I don't suppose we've had anybody in the party who's been more successful at reaching...