Word: surpluses
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...million in June. The U.S. is importing coffee, fish and fruits, among other foods. "Think of it!" exclaimed Senate Minority Leader Robert Byrd last week. "The greatest food basket in the world is running an agricultural deficit." The Government expects the U.S. will post a $5 billion agricultural surplus by the end of fiscal 1986. Reason: beginning this year, the U.S. will drop price supports, forcing farmers to sell their crops for less. To compensate for the loss in income, Washington will increase cash subsidies to farmers. The lower crop prices, the Administration hopes, will make American agricultural products more...
...legally employed in South Africa, almost 85% of them in mining, and they could be fired. Many of its neighbors are dependent on South Africa for electricity, which could be cut. Pretoria, however, rarely mentions the benefits it gains from these relations, including cheap labor and a regional trade surplus estimated as high as $1.5 billion a year...
...Asian nations are particularly alarmed by the thunder of trade-war drums in Washington. In May, the House of Representatives passed an omnibus 458-page trade bill that would require the President to open trade talks with any nation that achieved an "excessive trade surplus" with the U.S. through vaguely defined unfair practices. The aim of the talks would be to reduce the trade imbalance 10% annually in such a case. If no agreement was reached, the White House would have to retaliate, for example, by raising tariffs or tightening import quotas. Clearly aimed at such countries as Japan...
Under the Reagan Administration, Washington has curbed the Government's , role by cutting taxes and reducing regulation. While the White House proposed a 1982 program to shed weather satellites, surplus land and other federal holdings, the effort quickly bogged down amid a public outcry. The Administration hopes to raise $8.5 billion next year by selling power authorities, airports and energy reserves. Privatization has been far more successful at the state and local level, where governments have been able to spin off transportation, sanitation and other services...
...kinks work themselves out. In campaign speeches the Prime Minister promised to "make it possible for Japan to get set for the upcoming 21st century" by making good relations with his trading partners his No. 1 foreign policy goal. He has acknowledged that Japan's $61.6 billion trade surplus has sparked a worldwide protectionist outcry. He has said repeatedly that the Japanese must try to open Japan's normally inaccessible markets to world goods, though real progress has been slow. "Making Japan more open to the rest of the international community," says a government- commissioned blueprint for economic reform...