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...overvalued dollar, capital sunk in for the health of the New York stock market but not industry, then there will be pressure for protectionism." U.S. Senator Charles Mathias, a Republican from Maryland, also took the lead in voicing concern over protectionism, referring specifically to rising U.S. public pressures for import restrictions. "Protectionism is a serious problem that needs a high degree of understanding by the American people," he said. "We need all the help we can get from other countries of the alliance not to take protectionist measures that would feed the flame...
...Administration's commitment to free trade, however, has been shaky. While the White House has withstood the demands of groups like the lumber and machine-tool industries that it raise tariffs or slow the pace of imports, it last month increased, from 4.4% to 49.4%, the duty on large Japanese motorcycles, which have captured 85% of the U.S. market. That action came after a plea for help from the Milwaukee-based Harley-Davidson Motor Co., the lone survivor of 143 companies that once made motorcycles in the U.S. The Administration will soon face a new test of its free...
...international competition. A Commerce Department study showed, for example, that government help to European steelmakers amounted to as much as 41% of the value of their products. In response, other nations charge that the U.S. has its own array of subsidies, including low-cost financing through the Export-Import Bank to customers who buy American goods...
...memoir, his disillusioned onetime adviser Muhammed Hassanein Heikal contends that Sadat had a humble-beginnings complex that caused him to live inordinately lavishly. The author says that Sadat popped a couple of vodkas daily despite his Islamic faith's liquor prohibition. The Egyptian government last month banned import of the book. Anwar's widow Jehan Sadat, 49, has not commented publicly on Heikal's charges, but she will provide a portrait of her husband in her own just finished memoir...
Presidential Candidate Walter Mondale calls it "one of the most important works of the decade." Says Senator Gary Hart, another Democratic hopeful: "Few books on economics are bold enough to capture one's imagination. This is one." The object of the praise is The Next American Frontier (Times Books; $16.60), a provocative new analysis of America's economic ills by Robert Reich, 36, professor of business and public policy at Harvard's Kennedy School of Government. Searching for alternatives to laissez-faire Reaganomics, the activist Democrats have found an intellectual mentor in Reich, who argues that Government...