Word: tradings
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Dates: during 1980-1989
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...toxicants into the air. Result: a $50 million market in ERCs among polluters trying to expand. Such firms buy ERCs, at $3,000 to $10,000 per allowable ton of waste, from companies that have already reduced pollution. The feds say the practice improves the air, because every ERC trade reduces the subsequent waste quota...
...widgets in Japan, Richard Gephardt knows about the frustrations of unequal competition. After all, the little known Missouri Congressman is trying to take on Gary Hart, the Sony of Democratic politics. But Gephardt thinks he has found the lever to open up the 1988 political market: the $170 billion trade deficit and America's declining competitiveness in world commerce...
Last week Gephardt was waging a trade war on two fronts. In Congress, he was pressing for passage of the Gephardt amendment, which would add protectionist teeth to the pending trade bill by mandating quotas or tariffs if a rival nation sustained a large trade surplus with the U.S. and refused to eliminate unfair practices. Campaigning in Iowa, he became the first Democratic contender to challenge Hart aggressively on a major issue. Somewhat unfairly, Gephardt linked Hart with Ronald Reagan: "Frankly, I'm disturbed that the front runner in our party echoes the President and offers nothing new on trade...
Gephardt's early attack on Hart's free-trade views reflects a changed political environment, prompted by growing fears over the Japanese economic threat. This time around, presidential candidates may feel compelled to prove their moxie on trade. "It is clear that people do feel there is not a fair, level playing field and that they want something done about it," says Pollster Paul Maslin, who has ties to the Hart campaign. The political problem for all candidates is to develop remedies that are simple enough to be understandable, tough enough to be credible, yet permissive enough to satisfy...
...same time, he called the trade imbalance "unsustainable" and called for Japan to open its markets to foreign goods. Such a development would help lower prices for the Japanese, he said...