THE ADMINISTRATION: New Clout at Commerce

In his frequent speeches to executives, Commerce Secretary Peter Peterson often quotes his friend Henry Kissinger as cracking: "Peterson, you wouldn't have any way of knowing this, but power is the ultimate aphrodisiac." The line invariably draws a laugh, but the fact is that Peterson is no stranger to power and enjoys being referred to in Washington as "the economic Kissinger." As the nation's foreign-trade spokesman, he is out to prove that "trade policy is foreign policy, trade policy is security policy, trade policy is domestic policy." After less than a...

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