Word: protectionists
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...charged with emotion on both sides of the Pacific, and ranks with the tug of war over the return of Okinawa to Japan as the worst diplomatic impasse between the two countries in recent years. Last month Ways and Means Chairman Wilbur Mills, who is hardly known as a protectionist, introduced a bill designed to write import quotas into law. It would roll back imports of textiles to average 1967-68 levels, a reduction of 30% from last year, unless exporting nations "voluntarily" agree to limit their shipments to the U.S. The same restriction would be imposed on shoe imports...
There is considerable dissembling on both sides. The Japanese case could probably command greater support among U.S. free-traders if Japan were not itself more protectionist than any other developed nation. It has grown rapidly to economic maturity behind a barricade of restrictions, which once were justifiable as a shield for so-called infant industries. Japanese attitudes have not caught up with the country's important new trading role...
...Administration is also asking for a "clear statement of congressional intent" on eliminating domestic protectionist devices, notably the 1933 "Buy American" legislation, which prevents the Federal Government from purchasing foreign goods unless the price is more than 6% below that of comparable U.S. products. Repealing the law would help the Administration to press foreign countries to end equally ingenious barriers to trade, including European border taxes, health regulations and artificial technical restrictions...
...President offered no proposals intended to help the import-troubled U.S. textile industry. The omission was tactical. U.S. and Japanese negotiators are dickering in Geneva over voluntary quotas for Japanese mills. The U.S. has made it plain to Tokyo that a protectionist-minded Congress might well adopt even harsher measures unless Japan agrees to limit its textile exports...
...over trade is moving to the point of showdown. The issue will be debated at a joint meeting of the U.S. and Japanese cabinet members in Tokyo this month, and again when Prime Minister Eisaku Sato meets President Nixon in Washington in November. The expanding argument centers on the protectionist policies of both countries, but the U.S. has brought the trouble to a head by pressing for quotas on textile imports...