WORLD TRADE: A Fox Is Not a Fish

During the months that Steelmaker Clarence Randall, as chairman of the 17-member bipartisan Commission on Foreign Economic Policy, worked doggedly to hammer out a new trade policy for the nation, the word among commission staffers was that he "is out to land the big fish." The big fish was Colorado's Archconservative Eugene Millikin, chairman of the Senate Finance Committee and a Republican power on Capitol Hill.

By compromising his free-trade ideals, Randall thought he could win Commissioner Millikin's support and, with it, realistic hope for success in Congress. Last week Randall learned how wrong he was.

"Slicing My Back." The concessions—which...

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