Word: microchipped
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...American in Paris or a Melanesian microchip maker in Minneapolis, the message from the Internal Revenue Service is the same: pay up! The IRS announced a crackdown on American tax evaders living abroad and foreign-owned companies that are operating in the U.S. The Government says that it loses $2.3 billion a year because 61% of the 1.8 million Americans living abroad do not file returns. And an IRS survey of 12,000 foreign-owned U.S. corporations showed that up to 80% pay little...
...larger than a few grains of rice, but it was big enough to cause one of the most serious episodes between the U.S. and Japan since the end of World War II. It is the tiny microchip, a sophisticated bit of silicon that is the indispensable heart of the techtronic age, the raw material for everything from talking teddy bears to personal computers to intercontinental missiles. After the Reagan Administration imposed trade sanctions against Japan in an attempt to protect American makers of microchips, it suddenly looked last week as if the U.S. and Japan were headed for what could...
Sizable shock waves rattled around the world in the wake of the U.S. action, which was prompted by alleged Japanese cheating in the sale of the useful semiconductors and by Tokyo's alleged intransigent protection of its domestic microchip market. Partially in response to the specter of trade confrontation, the Dow Jones average of 30 industrial stocks sank 57.39 points as the week began, its third worst plunge in history. Yet the amazing 4 1/2- year bull market in stocks, fueled in part by billions of dollars in Japanese investment money, recovered quickly, and the Dow closed the week...
...microchip no larger than a few grains of rice has produced one of the most serious disputes between the two powers since World War II. Tempers are growing short in both Washington and Tokyo, and diplomats fear that problems could escalate. Europeans are joining the fray, thus causing concern about a rising tide of global protectionism. See WORLD...
...Commerce Secretary Baldrige seemed reluctant to let the issue die down. Last week he called for a top-level Government review to decide on exceptions, where the "national interest is at stake," to a stated policy of unfettered foreign investment in U.S. business. The U.S. Senate also kept the microchip issue simmering. In a 93-to-0 vote, members passed a nonbinding resolution that urged U.S. retaliation against alleged Japanese violations of a 1986 agreement with Washington that was supposed to end unfair trade practices in the industry. Immediately after the Senate vote, Japanese officials warned representatives of local companies...