Word: protectionists
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Dates: during 1970-1979
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...deluge of Japanese imports is arousing an angry protectionist reaction in the U.S.?Tokyo's wartime conqueror turned No. 1 trading partner (see Symposium, page 90). Fully 30% of Japan's exports go to the U.S. As recently as 1964, Japan bought more than it sold in U.S. trade. Since then, the popularity of Sony TVs, Nikon cameras, Panasonic radios, Toyota and Datsun cars, and Honda and Yamaha motorbikes has turned the picture upside down. Materials-short Japan is a big and growing consumer of American coal, lumber and even soybeans, but in each of the past three years...
What can be done to prevent such a trade war? Certainly the solution does not lie in appeasing protectionist sentiment. Apart from...
Britain is under pressure from Commonwealth countries to help them gain at least a measure of access to the EEC's highly protectionist trading area for agricultural products. Last week New Zealand's Prime Minister, Sir Keith Holyoake, flew to London to begin a tour of three capitals, reminding Europe that Britain's joining the EEC without safeguarding the economic interests of the Commonwealth would mean "disaster" for New Zealand. Though France is opposed to Britain's trade preferences for Commonwealth countries, concessions for New Zealand butter and sugar from former Caribbean and Pacific possessions...
...felt that he had been had by the Nixon tactic. The bill whipped through the House, and on its way picked up provisions that would also have set quotas on shoes and many other products-thus inviting retaliation not only from Japan but from Europe as well. The highly protectionist bill was lost in a Senate logjam at the end of the last session...
...influential man on Capitol Hill, is opposed to it. It is equally difficult to envision how the U.S. can evolve any coherent trade policy while Nixon and Mills remain locked in their classic confrontation. A prolonged deadlock threatens to further strain relations between Washington and Tokyo, and to fan protectionist sentiment, which has been rising alarmingly among U.S. businessmen and unionists. To bring the situation under control, Nixon, Mills -and free-trading U.S. businessmen -must rethink their positions and seek some new initiatives...