July 19, 1996 |
The United States suffered its worst trade imbalance in eight years in May as its deficit with China almost surpassed that of Japan, which traditionally has the biggest surplus with America. The U.S. trade gap grew by 13.2%, to $10.9 billion, the Commerce Department said Thursday. May was the third straight month the deficit has widened, raising questions of whether the economy is growing as fast as previously thought.
June 6, 1987 |
President Reagan, who less than two years ago signed the most expensive farm aid bill in history, called Friday for the elimination of agricultural subsidies worldwide by the year 2000 as a way of promoting better world economic health.
July 2, 1988 |
The dollar, after three years of decline, appears to finally be stabilizing, thanks to recent drops in the U.S. trade deficit. That, experts say, is good news for stock and bond investors. This past week, the greenback hit a six-month high against the Japanese yen and also gained relative to the West German mark. While few predict that the U.S. currency will rise much further, many experts now say that at least its massive drops may be finally over. The key to a stable dollar "is that the U.S.
April 26, 1987 |
Guzzling beers down at the Flat Iron Cafe--in the very shadow of the hulking, long-shuttered Youngstown Sheet & Tube steel mill--the men who tended the furnaces and poured molten metal still puzzle over the rapid demise of an industry that once epitomized American economic might. "I'm not bitter at Japan," said retired mill hand Red Windwood, when asked about the flood of cheap steel imports that has killed the once-thriving steel industry in the Mahoning Valley.
April 19, 1990 |
A top Bush Administration official warned Wednesday that Japan can expect tough action from the United States later this year if it fails to live up to provisions of a bilateral trade pact signed earlier this month. Speaking to electronics industry executives at an Irvine luncheon, Commerce Secretary Robert A. Mosbacher predicted that the U.S. trade deficit will fall below $100 billion this year for the first time in seven years. The nation's trade gap hit $113.
March 30, 1988 |
When Ohio sheep farmer Joe Hixenbaugh ordered some grazing fences and gates from Kenneth Townsend's small livestock equipment-manufacturing company here a few months ago, he confidently expected that the goods would arrive within a few days. No such luck. After weeks of waiting, Townsend officials finally confessed that it might be several months before the gates would be finished--because they couldn't get the structural steel to make them.
January 21, 1992 |
Japanese Prime Minister Kiichi Miyazawa and Toyota Motor Corp. Chairman Eiji Toyoda on Monday appeared to edge away from what seemed to be commitments to buy more American autos and auto parts, setting off acrimonious debate and new accusations of duplicity in the United States.
May 20, 1991 |
Richard Brecher, director of business advisory services for the U.S.-China Business Council, a Washington-based group representing American firms with financial interests in China: If the MFN is not extended, the (American) business community would be damaged in a myriad of ways. If you're an exporter and you're selling to China, it's most likely that China would retaliate against U.S. products.