Word: gattes
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This banana split is one small example of how diplomats and economists can promote free trade and all the GATT principles they want, but the basic issues can be talked to death and never get resolved. Like free love, free trade breaks down whenever there are people involved who want to protect their interests -- in this case, bananas...
...whom have weighed in on the side of preserving the small banana farm, which is the sole source of support for many laid-back islanders. Normally well-behaved people on both sides of the issue have been insulting each other's bananas through at least two different rounds of GATT talks, calling the rival bananas "skinny," "tasteless," "rotten" and "easily bruised." Both GATT panels have ruled that the banana quota system is a restraint of trade, but that hasn't stopped the friends of the quotas. They have been working frantically behind the scenes, offering South American countries various financial...
...103rd Congress slouches toward its scheduled adjournment this Friday, Clinton and his Democrats look unable to win passage for any of their remaining legislative priorities. Most urgent among the stalled bills: the General Agreement on Tariffs and Trade, or GATT, which would create thousands of new U.S. jobs and enjoys majority support. But it is held hostage by a single Democrat: Senate Commerce Committee chairman Ernest Hollings of South Carolina, who is battling to shelter his state's powerful textile interests from the global competition that other U.S. industries and workers are facing -- and winning. Senate leaders vowed to press...
...expanded trade with Mexico and Canada and passed a big anticrime bill. But as his approval ratings have dived into the low 40s, the President and his party's leaders have failed to win sufficient support among Democrats in Congress to pass such major legislation as health reform and GATT...
FREE TRADE: Last April, in a private chat with U.S. Trade Representative Mickey Kantor, Hollings offered "some friendly advice." Don't wait until the end of the congressional session to submit the GATT treaty, Hollings warned. "It's going to take time. I've got problems with it." But the Administration got tied down negotiating concessions for lawmakers on other committees and failed to officially submit the treaty until last week. Hollings declared that he would invoke his right, as Commerce chairman, to delay consideration in the Senate for 45 days. Senate majority leader George Mitchell responded by scheduling...