Word: protectionists
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...confident that 1987 will see a significant improvement." Maybe so, but the November figure meant that the 1986 deficit was running at an annual rate of $173.5 billion, up 17% from the previous year. The Administration is eager to confront the trade issue before Congress decides to pass sweeping protectionist legislation...
...competitiveness. Legislators began picking up that term during 1986, often as a politically palatable way to champion trade restrictions designed to help beleaguered industries in their home states. Some of those measures, which Congress is likely to debate in early 1987, could include export subsidies, import quotas or other protectionist steps that the Administration generally opposes. To pre-empt any protectionist bill, the Administration said in December that Reagan would announce his own competitiveness-boosting plan in January's State of the Union address. The Reagan proposal would emphasize increased productivity at home, probably through greater emphasis on worker training...
TIME's board members expressed hope that the improving trade deficit would dampen sentiment in Congress next year to produce a barrier-laden trade bill. Yet Congress may be tempted to pass protectionist measures under the cover of the new, sexier buzz word of competitiveness, according to Board Member Charles Schultze, a senior fellow at Washington's Brookings Institution and former chief economic adviser to President Carter. Schultze warned that under the patriotic banner of competitiveness, overzealous legislators may fail to differentiate between healthy steps to boost efficiency (example: increased worker training) and potentially harmful measures to shelter industries (example...
Change -- painful and profound -- is something that U.S. auto companies, especially Detroit's Big Three, have been struggling with for years. Battered in the early '80s by recession and imports, GM, Ford and Chrysler were bolstered by short-term protectionist measures, chiefly the imposition of "voluntary" export restraints on the Japanese. By 1984 the Big Three had rallied to their highest profit level ever: $9.8 billion...
...fiscal issues the Democrats will probably introduce the sort of restrictive trade legislation that Reagan vetoed last year. Even though the trade deficit is declining, many Senate candidates tapped a vein of protectionist sentiment during the campaign this year, and are sure to push for higher tariffs and quotas on foreign manufactured products and textiles...