Word: protectionists
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...lift exports as much as had been expected and the nation's surging economy attracted more and costlier imports. To prevent a repeat, the U.S. is demanding that Japan and the European Common Market nations buy more and sell less in America. President Nixon is making protectionist mercantilist threats about what he may do if they balk...
...approved at the IMF meeting in September. But Shultz, in announcing the devaluation, made a point of complaining that the negotiations are going too slowly. Last week he hinted that if agreement is long delayed, the U.S. will act to balance its international payments on its own, presumably by protectionist restrictions on imports or even further devaluations...
...says an assistant, "he got underneath the machines and counted teeth on the gears." Dent is a forthright spokesman for an industry that has been the recipient of special White House favors, namely the agreement the President worked out with Japan to limit textile sales to the U.S. Indeed, protectionist measures have also aided the oil, steel and sugar industries. But in other areas, the Administration is pressing for liberalized trade. Dent will have to go along, even though he comes from an industry noted for its support of trade barriers. Dent, who has a reputation for being open-minded...
Some of these hurdles can, and no doubt will, be lowered or removed as a result of further trade talks; the Japanese seem to realize that they must liberalize their import practices if they are to avoid more protectionist retaliation against their own goods abroad. But even an immediate removal of all formal barriers would not necessarily open Japan wide to U.S. marketing men. The most formidable of the obstacles cannot be lowered by diplomatic negotiation. It is Japan's archaic and labyrinthine distribution system...
...materialized, and some items have become even more expensive. Reason: Japanese distributors have maintained pre-revaluation prices on many U.S. goods and pocketed the extra money. Malmgren warned that Japan's failure to help ease the deficit quickly could lead the U.S. Congress to pass more protectionist laws...