Word: hashimoto
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Dates: during 1990-1999
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Walter Mondale, U.S. Ambassador to Japan, agreed under intense pressure from Japanese trade minister Ryutaro Hashimoto to a June 12 trade summit in Geneva, three days before the G7 summit begins in Canada. The United States had threatened toimpose $5.9 billion in punitive tariffs on Japanese luxury carsif no agreement on access to Japan's auto market were reached by June 28, and had offered to resume talks with Japan on June 20. Tokyo stepped up pressure on the U.S. by complaining to the World Trade Organization (WTO), betting that the international group would likely rule in Japan's favor...
Japan refused to back down. Trade Minister Ryutaro Hashimoto, who once called Kantor "even more aggressive than my wife when I come home drunk," promptly lodged a complaint with the World Trade Organization in Geneva demanding that the tariffs be thrown out. Not to be outdone, the U.S. plans to ask the organization to rule that Japan's entire method of conducting trade is unfair...
...auto parts -- everything from axles to mufflers to spark plugs. The U.S. claims that Japanese protectionism is evident from the fact that Japan has a 37% share of the U.S. parts market while American parts, which are of comparable quality, account for just 1.2% of the business in Japan. Hashimoto counters that it is not up to government officials to tell Japanese companies what products to buy and that any attempt to do so would violate free-trade principles...
...Japan, Hashimoto's hard line has played well, and his ambition to become Prime Minister could elude him if he appears to back down now. At the same time, his Liberal Democratic Party, which had governed Japan for some 45 years but is now only the largest faction in a coalition government, may no longer have the backroom clout to bring the country's powerful bureaucrats into a compromise that would avert a trade...
...Trade Representative Mickey Kantor met again with Japanese Trade Minister Ryutaro Hashimoto in a final effort to resolve adispute over the car and auto parts trade. The U.S. wants Japan to open its market to American automakers, but so far the talks, set to end today, have been fruitless. President Clinton says he will impose punitive tariffs on Japanese products if an agreement cannot be worked out. At issue is the Japanese refusal to extend the 1992 pact that called for Japanese automakers to commit to purchasing more American-made parts. Nearly 60 percent of America's record $66 billion...