Word: slashe
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...Commerce, the President attacked a restrictive trade proposal put forth by Representative Richard Gephardt, a 1988 White House hopeful. The Gephardt plan was an amendment to a House trade bill that would force countries that pile up huge trade surpluses with the U.S. through unfair trade practices to slash the imbalances by 10% a year or face a barrage of withering sanctions. Reagan described it as a "particularly bad proposal." But in the same speech the President called on Japan to abide by the rules of fair trade. Declared Reagan: "The final answer to the trade problems between America...
...followed suit. Two days later, seven leading banks had announced that they would take the serious step of reclassifying their loans to Brazil to a "nonperforming" status. That means that the banks' books will no longer maintain the fiction that Brazil is still paying interest. The decision will sharply slash the lenders' first quarter profits...
WASHINGTON--The House of Representatives yesterday approved a $1 trillion Democratic budget that would raise $18 billion in new taxes, slash President Reagan's military buildup and block White House plans for sharp decreases in domestic programs...
...Kennedy at a press conference last week. The company says it takes seven months to make the drug and that the high price is needed to offset development and manufacturing costs. Burroughs Wellcome officials also contend that by reducing the need for medical care, Retrovir could, despite its expense, slash the annual cost of treating an AIDS patient from an estimated...
...dramatic plunge in the U.S. dollar last week to a new postwar low of 147 yen, despite efforts by central bankers to stabilize the currency. Global money traders sent the dollar reeling because they expected that the currency might have to fall further if the U.S. is to slash its trade deficit. But sentiment is rising in Washington that protectionism is preferable to watching the dollar sink ever lower. Though the U.S. and Japan may not yet be engaged in a full-scale trade war, what used to be a heated rivalry between friends has now moved...