Word: quota
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Dates: during 1980-1989
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...persuades foreign countries to accept import limits on textiles, machine tools, sugar, meat and carbon steel, among other items. As pressure for more trade legislation builds this year in Congress, a growing number of economists and legislators have concluded that there must be a better way to run a quota system...
...only to remedy harm to individual victims of discrimination. This time the department, which brought the case to the Supreme Court when the troopers declined to appeal, argued simply that affirmative relief must be narrowly tailored, like "hand and glove." Solicitor General Charles Fried denounced the one-for-one quota as "excessive" and "profoundly illegal...
...This year I've had more control than last year," said Ross, who cut back his weekly quota from five hours...
...protectionism has since begun unwinding: the Reagan Administration stopped forcing quotas on Japan in 1985. Even though the Japanese unilaterally imposed their own ceiling on the number of cars exported to the U.S. that year, the quota was a full 24% higher than the one for the year before. In 1985 Detroit's collective profits shrank a bit to $8.1 billion, and this year are expected to decline again, to $7.1 billion...
While the newcomers multiply, Japan's automakers continue their relentless march. They are expected to export to the U.S. all 2.3 million vehicles permitted under their self-imposed quota this year, exceeding last year's 2.2 million -- a formidable achievement, considering that the value of the Japanese yen is more than 20% higher in relation to the U.S. dollar than it was a year ago. The currency hike, experts believe, has added about $1,300 to the average production cost of an imported Japanese car. Even so, industry executives estimate that Japanese compacts and midsize cars still cost roughly...