Word: gattes
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...whole set of assumptions about Canada will be shattered. An assumption that it is one, unified nation, for one thing, with shared responsibilities. Who, for example, would be responsible for Quebec's share of the huge Canadian debt? How would the departure of this large province affect the GATT agreement? What would the new relationship with Canada and with other nations be?" If Quebec votes yes, Canada will be forced to explore all of the implications of this painful divorce...
...Commerce Department. At this rate, the U.S. appears to be headed for its worst annual trade deficit as well, projected now at a record $165.24 billion. "This trade performance poses a significant political problem for both the Clinton administration and the Republicans who rallied behind NAFTA and GATT," reports economics correspondent Adam Zagorin. "Those free trade agreements were sold as great creators of economic prosperity and jobs." Zagorin says the higher deficits will likely re-energize free trade opponents like Pat Buchanan and Ross Perot who say U.S. workers can't fairly compete with imports from low wage countries like...
Ross Perot knows how to get the adrenaline of his followers flowing. Last fall, when Congress was considering a trade pact Perot despised, he threatened to form a new national party as punishment to the political establishment. When Congress approved GATT anyway, chapters of Perot's United We Stand America enthusiastically prepared for a fresh adventure with their hero. But the quest never got under way. Perot, to the chagrin of his fans and in an about-face reminiscent of his on-again, off-again, on-again 1992 presidential campaign, had come to the conclusion that it was quixotic. This...
...court voters whose wages have stayed flat or fallen while corporate earnings and executive salaries have soared. He claims both parties are too willing to "bow down to a gold calf" of free trade, sacrificing "American jobs on the altars of transnational corporations." He wants to repeal NAFTA and GATT, end foreign aid within five years, and slap across-the-board tariffs on Japanese and Chinese goods...
...fact, Newt Gingrich's "Contract with America," compared with Perot's manifesto, is timid in attacking the deficit and ignores other major items on Perot's priority list as well. Even legislators who have enjoyed explicit support from Perot have stiffed him on such critical issues as nafta, gatt and the Administration's effort to nourish Mexico's anemic currency. When Congress was considering gatt last November, Perot warned that if the trade agreement was approved, which it was, United We Stand would consider forming a new party. Local chapters all over the country-prodded by national headquarters in Dallas...