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NEWS
March 16, 1989 | DOUGLAS JEHL, Times Staff Writer
In the face of a widening revolt against deadly assault weapons, the nation's largest manufacturer of such rifles, Colt Industries, announced Wednesday that it will suspend commercial sales of its semiautomatic AR-15 rifle until the Bush Administration can decide whether the weapon should be outlawed. The voluntary move was made as a gesture of support for the Administration decision Tuesday to temporarily bar imports of foreign-made military-type weapons.
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BUSINESS
December 8, 2001 | EVELYN IRITANI, TIMES STAFF WRITER
With the White House struggling to assist the beleaguered U.S. steel industry, the International Trade Commission recommended Friday that President Bush impose punitive tariffs as high as 40% on steel imports for up to four years. Bush, who has 60 days to act on the recommendations, is expected to support punitive measures because he initiated the ITC investigation.
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BUSINESS
October 4, 1989 | ART PINE, Times Staff Writer
House Majority Leader Richard A. Gephardt, who made trade a major issue as a Democratic presidential candidate in 1988, is preparing to introduce another controversial trade bill to help prod the Bush Administration to get tougher on trade. Gephardt (D-Mo.) is expected to announce formally today a proposal to create a far-reaching Department of International Trade and Industry--modeled on the powerful trade ministry maintained by the government of Japan--to replace the Commerce Department.
NEWS
December 7, 2001 | NICK ANDERSON, TIMES STAFF WRITER
With a late surge of Republican support overcoming fierce Democratic opposition, the House voted Thursday to hand President Bush a major prize: special power to negotiate new international trade deals. The 215-214 vote cleared the highest obstacle for legislation granting the Bush administration what it calls "trade promotion authority," which permits the president to make trade agreements that are presented to lawmakers for simple yea-or-nay votes.
BUSINESS
December 12, 1989 | From Reuters
The United States appears certain to regain its place as the world's top merchandise exporter this year, but a drive to reduce its multibillion-dollar trade deficit has lost momentum, according to a GATT report released early today. U.S. merchandise exports rose by 15% for the first nine months of 1989, more than double the increases recorded by Japan and West Germany, the 96-nation trade watchdog said. "The U.S.
BUSINESS
June 23, 1999 | From the Baltimore Sun
Under heavy pressure from the Clinton administration, the Senate easily derailed a quota bill Tuesday designed to protect beleaguered U.S. steel producers from what they claim has been a flood of illegally low-priced imports. Voting 57 to 42, the Senate refused even to allow the House-passed measure to come up for a vote, effectively killing the legislation. Opponents echoed the administration line that setting quotas to help the steelmakers would hurt the rest of the U.S.
BUSINESS
April 17, 1990 | CRISTINA LEE, TIMES STAFF WRITER
Life Support Products Inc., a small Irvine manufacturer of resuscitators and other emergency medical equipment, counts among its clients the Tokyo fire department, the Sultan of Brunei and the British royal family. Since beginning an international marketing campaign six years ago, Life Support's foreign sales have soared. In the last three years alone, international sales have risen five-fold, from $325,000 in 1987 to $1.7 million last year.
NEWS
February 15, 1994 | JAMES GERSTENZANG, TIMES STAFF WRITER
With trade talks broken off, a White House official said Monday that the Clinton Administration expects today to declare Japan in violation of a telecommunications agreement--a move that could pave the way for sanctions against the Japanese and escalate a trade dispute between the world's two largest economies. President Clinton warned Japan on Monday not to embark on a tit-for-tat trade war, saying, "I think they would have to think long and hard about it."
BUSINESS
February 13, 1995 | HOPE HAMASHIGE, SPECIAL TO THE TIMES
Government and businesses have looked to international trade to spur Southern California's economic recovery since the downturn of the aerospace industry. Global trade was in the news through much of 1994. Congress ratified the General Agreement on Tariffs and Trade, President Clinton signed the North American Free Trade Agreement and renewed China's most favored nation status. But, the situation has changed radically in the past few months.
BUSINESS
February 18, 1989 | ART PINE, Times Staff Writer
America's foreign trade deficit shrank to $137.3 billion in 1988--$33 billion less than in the previous year, the Commerce Department reported Friday. But the imbalance narrowed only slightly in December, apparently confirming that further improvement is apt to be slow. The figure for 1988, down from a record $170.3-billion deficit posted in 1987, marked the first time that the yearly deficit has declined since 1980.
BUSINESS
December 2, 2001 | EVELYN IRITANI, TIMES STAFF WRITER
Richard Adee, a South Dakota beekeeper, credits an obscure U.S. trade law with keeping him alive in the cutthroat world of honey, where prices are slashed and supplies are allegedly dumped in search of sweet profit. "The law saved the honey industry," Adee, a second-generation honey producer, said. "We've had a lot of our beekeepers go out of business." For Hans Boedeker, a Tustin, Calif., honey importer, that same law spells doom: "These laws are very arbitrary. There was no dumping of honey."
BUSINESS
November 27, 2001 | Associated Press
The Supreme Court on Monday sidestepped a constitutional challenge to White House power to negotiate trade pacts and other international deals. Justices were being pressed to strike down the North American Free Trade Agreement because it was not endorsed by a two-thirds vote of the Senate, a constitutional requirement for treaties.
BUSINESS
November 21, 2001 | STUART SILVERSTEIN, TIMES STAFF WRITER
The nation's trade deficit narrowed by a record $8.4 billion in September, largely because of payments that foreign insurers started pumping into the U.S. economy because of the terrorist attacks, the government reported Tuesday. Analysts said the trade figures, along with an analysis showing the worst decline in California exports in more than five years, also stem from a global recession that is reducing commerce.
NEWS
November 9, 2001 | NICK ANDERSON, TIMES STAFF WRITER
With a top Bush administration goal hanging in the balance, the president and House Republican leaders are exploring possible compromise with Democrats on a major trade bill that could come to a vote as early as next week. At the same time, lobbyists for and against the bill to expand presidential power to negotiate trade deals have ramped up their campaign with advertisements reaching the home districts of up to two dozen representatives who have not yet declared a position.
BUSINESS
November 8, 2001 | EVELYN IRITANI, TIMES STAFF WRITER
Even before the ink dried on the last global pact, jubilant U.S. farmers were looking forward to billions of dollars in new sales as trade barriers fell like dominoes. That celebration now has become a wake. Since the agreement took effect six years ago, U.S. rice and citrus growers have found themselves struggling to make inroads in protected foreign markets, while imports of tomatoes, roses, garlic and canned peaches have skyrocketed.
BUSINESS
October 23, 2001 | EVELYN IRITANI, TIMES STAFF WRITER
A U.S. trade panel ruled Monday that foreign imports pose a serious threat to the U.S. steel industry, paving the way for protective measures that critics fear will further increase trade tensions and weaken the global economy by raising costs. In a move applauded by financially strapped U.S. steel makers, the International Trade Commission ruled that a dozen product lines accounting for 80% of all steel produced in the U.S. had been severely hurt by cheaper imports.
BUSINESS
August 18, 1995 | CHRIS KRAUL, TIMES STAFF WRITER
The U.S. trade deficit surged in June to $11.31 billion--the second-highest monthly imbalance in history--the government reported Thursday, raising new concerns about the strength of the global economy. The surprisingly large June trade gap also called into question recent efforts by the U.S. Treasury and the Federal Reserve, along with foreign central banks, to bolster the U.S. dollar's value against Japanese and German currencies--a strategy that could ultimately make U.S. exports pricier.
BUSINESS
November 27, 1994 | JAMES FLANIGAN
It's now likely that Congress will approve U.S. participation in an expanded General Agreement on Tariffs and Trade this week, backing developments in international law and commercial practice that the United States has fought long and hard to achieve. By their actions, the House and Senate will boost international trade in services--law, finance, engineering, education--in which the United States leads the world.
BUSINESS
September 1, 2001 | Reuters
Foreign purchases of U.S. stocks and bonds slowed in June and the second quarter, according to new Treasury Department data, suggesting overseas investors' strong appetite for U.S. assets may be fading. The Treasury's monthly report on U.S. transactions with foreigners in long-term securities, issued Friday, showed foreigners bought a net $40.4 billion in U.S. assets in June, down more than 30% from May's $58.7 billion.
BUSINESS
August 18, 2001 | JONATHAN NICHOLSON, REUTERS
Weaker demand from overseas resulted in a wider U.S. trade gap in June, the government said Friday, a development that underscored the economy's weakness in the second quarter. The U.S. deficit in trade of goods and services increased to $29.41 billion in June from a revised $28.47 billion in May, the Commerce Department said. Exports and imports both fell to levels not seen since early 2000, indicating weakness at home and abroad.
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