WASHINGTON — The U.S. trade deficit will narrow by no more than $15 billion to $20 billion in 1987, about half the improvement projected by the Reagan Administration, an industry group predicted today.
A study by the National Assn. of Manufacturers said an easing of the deficit will be "painfully slow," and ultimately may require a reduction in U.S. living standards. In a pessimistic assessment, the association's chief economist, Jerry J. Jasinowski, told reporters it seems doubtful under current world conditions that U.S. companies can make any significant increases in exports. The trade imbalance is expected to reach a record $170 billion this year.