Word: hashimoto
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Dates: during 1990-1999
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...Clinton enthused, "This agreement is specific. It is measurable. It will achieve real, concrete results." In Tokyo, however, Hisashi Hosokawa, a hard-line miti official, insisted that "this agreement is a rejection of numerical targets" for Japanese purchases of American cars and parts. His boss, miti Minister Ryutaro Hashimoto, may have strengthened his already bright chances for becoming Japan's next Prime Minister: he was being hailed as a hero precisely for having got Kantor to drop a U.S. demand for such targets...
...prospective increase of $9 billion in three years-or roughly 50%-in sales of U.S.-made auto parts to Japanese buyers. These are American estimates of what will happen if Japanese carmakers carry out pledges they supposedly made "voluntarily" and which are additionally subject to changing business conditions. But Hashimoto has made it clear that the Tokyo government does not guarantee that these-or any-targets will be reached. The pact provides for regular reviews to see how it is working out, yet prevents the U.S. from applying new sanctions if Japanese companies fall short of their promises...
Such a deadline was little more than half a day away when Hashimoto and Kantor reached their agreement. Had they not done so by midnight Wednesday, the U.S. was poised to impose 100% tariffs on 13 makes of Japanese luxury cars, including Lexus and Infiniti, raising their prices enough to make them virtually unmarketable in the U.S. and costing the Japanese automakers nearly $6 billion a year in lost sales. Japan could have retaliated by limiting imports from the U.S., perhaps of aircraft and farm products such as beef. That might have spurred another U.S. retaliation and started a spiral...
...plenty. For one thing, this time it might really happen: the Clinton Administration swears it is dead serious about slapping penalty tariffs on Japanese luxury cars Wednesday. The announcement over the weekend that U.S. Trade Representative Mickey Kantor and his Japanese counterpart, Ryutaro Hashimoto, will meet Monday in Geneva may increase the prospects of an eleventh-hour deal to expand sales of U.S. auto parts to Japan and keep the penalties from being put into effect. But even that would not defuse the intensifying confrontation between Washington and Tokyo...
...negotiators from the U.S. and Japan stepped in to try to forge an agreement in Geneva. U.S. Trade Representative Mickey Kantor and Japanese Trade Minister Ryutaro Hashimoto began a series of what they vow will be round the clock meetings as they try to reach a trade agreementbefore Wednesday, when U.S. sanctions are due to take effect.No progress has yet been reported as the U.S. remains firm in its demand that Japan open its auto markets to American businesses. The Japanese still say their markets are open and that U.S. demands amount to little more than quotas. Any compromise will...