Made in America: Two friends discuss trade

Two friends discuss trade

They call each other Ron-san and Yasu. That is only fitting, since Ronald Reagan and Japanese Prime Minister Yasuhiro Nakasone describe each other as good friends. So when they met for the fifth time, at the sleek Century Plaza Hotel in Los Angeles last week, their wide-ranging talks were amicable, leading to what Nakasone described as "complete agreement on all issues." Actually, the two leaders were able to reach only a vague accord on the stickiest issue of all: what the Japanese call boeki masatsu, or trade friction, and what American manufacturers call by less euphemistic epithets.

Traditional Japanese hospitality has...

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