Word: undercutting
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...strained mood in Washington contrasted greatly with the atmosphere after a G-5 meeting at New York City's Plaza Hotel in September of last year. There the Western powers agreed to reduce the value of the dollar in concert, and thus try to undercut the U.S. trade deficit. In fact the dollar had already begun to decline, starting in February 1985, but the Plaza pact marked a commitment to continue the trend. From its February peak, the dollar fell by some 30% against other major currencies within 18 months...
...practical matter, the court's decisions will undercut Justice Department policy. Last year the department wrote to over 50 jurisdictions, urging them to dismantle or cut back affirmative-action programs for public employees. Now they are effectively free to ignore the feds. Moreover, the court's ruling will almost surely stymie the department's effort to eviscerate federal rules that require many companies with Government contracts to set goals to improve minority hiring...
Shultz supported Aquino's policy of putting military pressure on the Communists while inviting them to the negotiating table. Yet Defense Minister Juan Ponce Enrile seemed to undercut that two-pronged approach by stating that it would take a "miracle" to produce a political solution. Aquino and Enrile denied persistent rumors of a serious rift between them, and the two made several joint appearances. Enrile did say that he might run in the next presidential elections...
Reagan maintained that the measure "would cost American consumers billions and undercut the millions of American jobs connected with foreign trade...
...that Sandinista troops had crossed the border. In Managua, Joaquin Cuadra Lacayo, the army Chief of Staff, told reporters, "In the last several weeks we have mobilized many thousands of men to the border. But it is absolutely false that Nicaraguan troops have violated Honduran territory." But the Sandinistas undercut their own denials later. At a press conference on Friday, Ortega sought to justify but not deny the raid. "Honduras lost control of its sovereignty by having the mercenary forces there," he said, referring to the contras. "The border area is converted into a war zone. We have a legitimate...