Word: import
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Dates: during 1980-1989
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...erudite and usually garrulous Spadolini, like Mitterrand, was outspoken only in assailing high U.S. interest rates, which he claimed had seriously jeopardized Italy's anti-inflation drive. The reticent Suzuki skillfully avoided drawing attention to himself-and thus escaped sharp criticism of his nation's selective, restrictive import policies and its aggressive overseas selling. Canada's Deputy Prime Minister MacEachen explained the reluctance of the conferees to publicly criticize Japan: "When you are extolling the virtues of free trade, it is hard to point a ringer at the people who have been so brilliantly successful...
...urging the other countries to restrict trade with the Soviet bloc. The State Department would recommend only more restrictions on exports of strategic goods; the Pentagon wants a tougher approach, contending, for example, that West Germany should halt its plans to build a pipeline to import Soviet natural gas. U.S. summit planners have little hope of resolving that division by next week, so Reagan probably will confine himself to generalities...
Danforth's letter, which was cosigned by eleven other members of the Senate Finance Committee, hinted that Congress might again consider putting import quotas on leading Japanese exports...
Some American officials say that this deficit is partially caused by restrictive import barriers that make it hard to sell products other than wheat, rice, aluminum and other natural resources. Japanese officials, however, maintain that they no longer discourage foreign companies...
Though the country has flooded the world with everything from Toyotas to tummy tubes, Japanese dependence on foreign oil has pushed its balance of trade into the red. Japan must import 99.8% of its oil. Yet despite a $54 billion oil bill, last year's $7 billion current-account deficit could this year be a surplus of as high as $6.5 billion...