Word: tradings
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Dates: during 1980-1989
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With no major new arms-control pact ready to be signed, the Moscow summit promises to be devoid of drama. Instead, it will consist mainly of the signing of protocols and agreements on trade and cultural exchange. "It is, after all, a rather ceremonial affair," said a Soviet editor. "It is a chance for your President to see Moscow. He is welcome." Reagan will attend the Bolshoi Ballet, visit a monastery and field questions from students at Moscow State University; First Lady Nancy will travel to Leningrad...
...first glance, last week's Government trade report looked like welcome economic news. The trade deficit suddenly narrowed to $9.7 billion in March, a 30% drop from February's $13.8 billion level and a far better performance than even the most hopeful economists had projected. After months of frustrating setbacks, the trade deficit was finally coming down sharply, and it appeared that the U.S. was making progress in solving one of its most pressing economic problems...
...jump in exports will lessen the sense of urgency over passage of trade legislation this year. The bill approved by Congress is designed to curb the deficit by forcing the White House to take stronger action against unfair ; foreign trade practices. But President Reagan has promised to veto the measure largely because it contains a provision requiring companies to give workers 60 days' notice of plant closings and mass layoffs. It appears that Democrats do not have enough votes in the Senate to override the veto, especially after the trade-report figures...
...value of the dollar against major industrial currencies over the past three years, which has made U.S. exports less expensive in foreign countries, is at last having a substantial impact. Among the products selling particularly well in overseas markets: aircraft, office equipment and telecommunications gear. Says U.S. Trade Representative Clayton Yeutter: "The lower dollar has thrown open doors that were closed to American exporters for much of the decade." Says Robert Ortner, an Under Secretary for Economic Affairs at the Commerce Department: "This is a genuine export boom...
American demand for foreign consumer goods remains strong, however steep their price tags. At a meeting in Paris last week of the Organization for Economic Cooperation and Development, top European officials pointed to excessive consumption as the chief cause of the U.S. trade deficit. Nigel Lawson, Britain's Chancellor of the Exchequer, called for a "slowdown in the growth of U.S. domestic demand, which in these circumstances is rising uncomfortably fast...