Word: surpluses
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...miles inland from the sea. The refineries are now supplied by tankers limited in size by state law to 125,000 tons. The oil companies and Ray want the figure raised to 250,000 tons, arguing that the bigger loads would allow savings leading to lower prices for consumers. Surplus oil would be passed on to the Midwest by pipeline...
...biggest in the world, after the U.S. and the Soviet Union-has shown little growth, its industrialists have launched a spectacularly successful export drive. Despite a rapid climb in the value of the yen, which should raise the price of Japanese goods in world markets, the nation's surplus of exports over imports is heading toward a record $15 billion this year, draining money out of the economies of the U.S. and Western Europe...
Foreign anger has been sharpened because Japanese Premier Takeo Fukuda has been promising for months to slash the trade surplus, yet nothing has happened. Last week something finally did. Faced with the real possibility that the U.S. and Europe would take protectionist moves to block the flow of Japanese goods into their markets, the 72-year-old Fukuda carried out a sweeping reorganization of his government to deal with what he called "the worst economic crisis in Japan's postwar history...
...visited Tokyo and warned of growing protectionist sentiment in the U.S. A few weeks later in Washington, Vice President Walter Mondale shocked a group of Japanese politicians. They interpreted Mondale's remarks as constituting a charge that Fukuda had lied when he pledged a reduction in the trade surplus...
...trade delegation headed by Richard Rivers, Strauss's general counsel, visited Tokyo. The Americans demanded that Japan step up its domestic economic growth to 8% a year or so, as an alternative to reliance on exports, and that it set a specific date for converting its trade surplus to a deficit. Fukuda responded with the Cabinet shakeup; his new ministers are already at work hammering out a program that Ushiba will present to Carter aides in Washington sometime this month...