Word: bill
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Dates: during 1980-1989
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After months of balancing every member's special interest, the House and Senate succeeded last week in producing an omnibus trade bill designed to rein in the ballooning $170 billion trade deficit...
Surprisingly, most of the 1000-page bill is agreeable to Congressmen on both sides of the aisle. Republicans like it because the most blatant protectionist measures--such as the Gephardt amendment--have been diluted or jettisoned. Democrats like it because it offers relief for beleaguered industries...
...essence, the trade bill rejects both unrestricted free trade and short-sighted protectionism, embracing "fair-trade." The bill authorizes the President to retaliate against trading partners that persistently engage in unfair practices...
...spite of the bill's merits, President Reagan has vowed not to sign it. Sure there are some dubious provisions, such as the many pet projects of Congressmen more interested in their constituents than in an effective trade policy. Rep Beryl Anthony (D.-Ark.) inserted a provision lowering tariffs on watch parts, a move that would benefit the Timex plant in his district. Rep. Don Bonker (D.-Wash.) wants to restrict plywood imports that hurt his state's timber industry...
...Reagan is willing to overlook these petty indulgences. His opposition to the trade bill hinges on only one provision: a requirement that companies warn employees 60 days before closing a plant...