Business: Moving Toward Freer Trade

The U.S. stands to be a major gainer from the Tokyo Round agreement

Customers in two dozen countries will soon be spending less than they ordinarily would for a wide variety of imports, ranging from cheese to autos, and that will help slow inflation. U.S. export sales should pick up for industries as diverse as hospital equipment, chemicals and data processing, creating more jobs. American farmers should get easier access for their goods abroad, helping to narrow the huge U.S. trade deficit.

These will be some of the benefits of the so-called Tokyo Round of trade talks. After 5½ years of agonizing and...

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