Word: important
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Dates: during 1980-1989
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...either as a protectionist or a free-trader, with no shades in between. And we're going to lose, as a country, for it." Given the protectionism and market intervention practiced by Japan and other foreign governments, Iacocca would have Washington intervene in the market too, setting up import tariffs and quotas to keep manufacturing jobs in the U.S. In his view, the U.S. "is being played for suckers" by sticking to principles of free trade while other industrial nations subsidize their exports and limit imports. The U.S. trade gap, $123 billion in 1984 and growing, is to Iacocca...
...tough talk does not necessarily make good economic policy. The Administration and some Democrats argue that protectionist barriers cost more to maintain than they are worth. By the estimate of the U.S. International Trade Commission, the voluntary import restraints on Japanese autos that were recently lifted cost U.S. consumers $89,250 a year in higher car prices for each U.S. autoworker's job saved. Furthermore, free-traders argue, a protectionist cocoon would discourage manufacturers from reaching for greater operating efficiencies...
...Kirkland: "He's an old friend, a man I have a great respect for, and a man I think I can work comfortably with." Nor has Brock's record as Trade Representative been completely inimical to labor. While he argued strongly for free trade, Brock nevertheless negotiated voluntary import restrictions with foreign auto and steel producers. Nevada Senator Paul Laxalt summed up Brock's assets with the observation: "I don't suppose we've had anybody in the party who's been more successful at reaching...
...prices of their cars an average of $1,300. Japan's Big Three--Toyota, Nissan and Honda--drove away from the U.S. with trunkfuls of dollars as they con- centrated sales on , their more expensive models, where the big profits are made. One Government study showed that the import restraints cost U.S. consumers more than $1 billion annually, with about 90% of it going to Japanese manufacturers and distributors...
...days ago, he went to give the President the morning briefing. When the door to the Oval Office closed, just two men were inside. The import of the change struck Regan, who replaced the triumvirate of Meese, Deaver, Baker: quartet to duet. "We'll have to get used to this," he said to Reagan...