Word: miti
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...grand tradition of U.S.-Japanese trade settlements, it left Washington and Tokyo ample room to quarrel about just what it was they had agreed to. Clinton enthused, "This agreement is specific. It is measurable. It will achieve real, concrete results." In Tokyo, however, Hisashi Hosokawa, a hard-line miti official, insisted that "this agreement is a rejection of numerical targets" for Japanese purchases of American cars and parts. His boss, miti Minister Ryutaro Hashimoto, may have strengthened his already bright chances for becoming Japan's next Prime Minister: he was being hailed as a hero precisely for having got Kantor...
AFTER YEARS OF ENDURING THE WORLD'S CRITICISM of its trading practices, Japan last week dished out some of its own. In a 212-page Report on Unfair Trade Policies by Major Trading Partners, an advisory group to the Ministry of International Trade and Industry (MITI) outlined the trading patterns of 10 regions, including the U.S., the European Community, Korea and Singapore. The report pointed out violations of fair trade by each area in 10 separate categories, such as quotas, anti-dumping measures and government procurement. The U.S. fared worst of all, with black marks in nine...
...only problem was that the timing could not have been worse. Japan's global trade surplus -- about $78 billion last year -- is soaring toward record levels. Last week a House Ways and Means subcommittee passed a trade bill with provisions for sanctions aimed at Japan. U.S. officials saw the miti report as simply the accused pointing its finger at the accuser. "People who live in glass houses should be careful about their stones," declared White House spokesman Marlin Fitzwater. House Democratic leader Richard Gephardt said Japan "doesn't have the credibility to call others unfair...
Americans weren't the only ones irked by Japan's sudden assertion that other countries violate free trade. Japanese industry officials, many of whom have followed MITI orders to limit exports and market shares in order to ease trade friction, felt the report only fueled the frustrations of foreign traders. "I don't understand why they put out such a report," said a Japanese auto executive. "MITI would never have allowed us to say such things...
...which is aimed at meeting the threat of global warming. As envisioned by the Ministry of International Trade and Industry, it will promote two activities: the development of technologies designed to reduce production of carbon dioxide and other greenhouse gases, and the sharing of those methods with developing countries. miti is financing an ambitious effort to generate clean-burning hydrogen, which would not contribute to global warming, by using genetically engineered bacteria. There are also tax breaks and low-interest loans available for environmentally sound industrial projects, and local governments can get tax relief when they purchase electric- rather than...