Word: yeutter
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...benefit to the shoe industry might amount to little more than a stay of execution. After five years of protection, there is no reason to believe that the American shoemakers would be any more able to fend off foreign competition. Says U.S. Trade Representative Clayton Yeutter: "That was the major strike that the footwear industry had against it. If the industry could have demonstrated that it was likely to be price competitive in the future, we may have had a different position...
...Yeutter will need all of his practical skills, and maybe a miracle or two as well, when he enters the minefield of U.S.-Japanese trade relations. In the four decades since World War II, Japan has waged one of the most successful campaigns in the history of commerce, making its consumer products household names throughout the developed world. But American and European salesmen of everything from meat to microchips have complained for years that Japanese markets have been closed to them, even when they offered products superior to those produced locally. That was an annoyance when Japan was struggling...
...admit that Moscow will buy at least 6 million tons from other grain exporters, and Peter Rankin, director of food policy studies at Georgetown University's Center for Strategic and International Studies, estimates that the Soviets will be able to buy up to 11 million tons. Says Clayton Yeutter, president of Chicago's Mercantile Exchange: "In the end, the Soviets will get all they want. The effectiveness of the grain embargo will be zero...
...gold can be perilous. Says Clayton Yeutter, president of the Chicago Mercantile Exchange, a leading gold futures market: "As the price enters the stratosphere, the risks become extraordinary. If you look over the edge from here, it's a long way down." Even if there is no great plunge, the small investor especially can find himself paying more than he figured for his bullion. When buying or selling coins, for example, dealers commonly add a charge amounting to 5% or more of the market price. Thus someone who bought a Krugerrand when gold was at $380 last week would...
Agriculture Secretary Earl Butz, who normally backs any proposal that helps farmers, believes that this one would only encourage them to produce for Government guarantees. Its effect, says Assistant Secretary Clayton Yeutter, would be to take the nation "back into the dark ages of farm policy." Indeed, for four decades Government policy consisted of a labyrinth of props under income that expanded until it cost taxpayers $4 billion in 1972. By overhauling the old system, the Nixon Administration trimmed the price tag to about $500 million last year. Unless Congress can now override a presidential veto of the 1975 bill...