Word: tradings
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Dates: during 1980-1989
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...much protection do U.S. steel mills need from foreign competition? In answering that question last week, President Bush added to his reputation as the Great Compromiser. Instead of extending the soon-to-expire voluntary trade quotas another five years, as Big Steel wanted, or abolishing the restraints altogether, as the industry's customers desired, Bush split the difference. For the next 2 1/2 years, the U.S. will hold foreign imports to 18.4% of the domestic steel market. After 1992 the barrier will be dropped. In the meantime, Bush directed U.S. Trade Representative Carla Hills to try to negotiate...
...National Westminster P.L.C. likes to advertise itself as the "Action Bank." Last week the action made front-page headlines when four of the bank's top executives, including chairman Lord Boardman, resigned. The NatWest shake-up, unprecedented in British banking, followed a July 20 report by the Department of Trade and Industry that accused the institution's investment-bank subsidiary of having "deliberately misled" stock-market investors and broken British corporate laws. The report said the wrongdoing occurred when a $1.35 billion stock offering by an employment-services company called Blue Arrow flopped and NatWest ended up in possession...
Another centennial find is the reconstructed Fort Union Trading Post, built in 1829, near the confluence of the strategic Missouri and Yellowstone rivers in the northwest corner of North Dakota. Fort Union served as a linchpin in John Jacob Astor's lucrative beaver-fur and buffalo trade with the Assiniboin, Crow and Blackfeet Indians. In its halcyon days, which lasted a quarter- century, the post dominated the upper Missouri from behind an elegant, whitewashed palisade. Annual steamboats brought artists and ethnologists. The bourgeois, or superintendent, maintained a splendid table, and French wine flowed in an imposing residence topped with...
...will a revamping of party practices be enough to lure back voters? Of key concern are the farmers who deserted the party in droves, complaining that the L.D.P. had capitulated to foreign trade pressures by opening Japan to food imports. Charged Masatoshi Wada, a leader of the 10,000-strong Shuso Agricultural Cooperative: "The L.D.P. promised to fight against liberalization at any cost, and then gave up the fight. We can no longer trust them at their face value...
...farmer backlash is bad news for the U.S. and Japan's other trade partners. The L.D.P. will now think long and hard before opening markets any further. In coming months Japan and the U.S. are to start talking about changing Japan's arcane retail-distribution system, which American businessmen perceive as a primary obstacle to getting their goods into Japanese stores. The L.D.P., hardly a speed demon in trade talks, will now be forced to move even more slowly, both to protect itself politically and to accommodate the strengthened voice of the protectionist J.S.P. Hiroshi Nukui of the Socialists' policymaking...