WORLD TRADE: Cut That Tape

Charges of red tape in Washington are common enough, but rarely are they made by high Government officers. In a new report, Secretary of Transportation John Volpe reveals some shocking statistics about the high costs that red tape tack on to the nation's imports and exports. Says Volpe: "The cost of documentation in U.S. international trade has reached nearly $6.5 billion annually, or 7.5% of the value of U.S. export and import shipments." The documents are demanded mostly by the Government, but also by banks, insurance companies and shipping firms. Items:

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