Word: tradings
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Dates: during 1980-1989
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Despite the probable weakening of the Gephardt amendment, several other proposals in the trade bill, including some that are seemingly extraneous, rile the Administration and could invite a veto. One of them would force many companies to give at least 60 days' notice of impending plant closings. The White House opposes as excessively restrictive a section that would require a ban for up to five years on the importation of any products made by Toshiba, the Japanese electronics company, and Kongsberg Vaapenfabrikk, a Norwegian government-owned manufacturer of computers and weapons. They were found last year to have violated export...
...Administration fears that foreign investors, who have helped prop up the economy through heavy buying of Treasury bills and other securities, might trim such purchases if they knew their names could be made public. Nobuhiko Sasaki, a deputy director at Japan's Ministry of International Trade and Industry, warns that congressional passage of the proposal would be "like putting a knife to your own neck...
Perhaps the most disturbing aspect of the trade bill is that many members of Congress are using it as a vehicle to promote their pet projects. Speaking last week at a committee hearing, Treasury Secretary James Baker praised Congress for being willing to compromise on sweeping issues such as what to do in response to unfair foreign trade practices. But Baker complained pointedly about the lack of "willingness to jettison amendments that sometimes are supported by only one member." In the same vein, Representative Robert Kastenmeier, a Wisconsin Democrat, castigated his colleagues: "A trade bill should be used...
...firmly believe in the worthiness of the proposals, or they may have been convinced by an effective lobbying campaign. Just as often, though, they may be out to please their constituents or those who have made major contributions to their campaigns. Both House and Senate versions of the trade bill are larded with proposals of questionable merit and purpose. A few examples...
Congress shapes a bill to help trim the trade deficit. -- The Postal Service cuts service but hikes prices. -- Kuwait' s BP connection...