U.S. finds trade plan wanting and impasse is dangerous
While leaving the door ajar for further negotiations, top officials of the Carter Administration last week politely but firmly turned down a set of proposals from Tokyo for reducing Japan's huge international trade surplus. By keeping out foreign goods and saturating world markets with their products, Japan has piled up a surplus that this year is heading toward a record $15 billion, and this is hindering growth and increasing unemployment in the U.S. and Western Europe.
The proposals, carried to Washington by Nobuhiko Ushiba, Japan's new Minister of External Economic Affairs, were put together...
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