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.
December 15, 1993 |
Despite official satisfaction in Washington over the global trade accord known as GATT, one important U.S. high-tech industry reserved judgment Tuesday because a key issue over intellectual property rights remained unresolved. Semiconductor makers, many of them based in California's Silicon Valley, said U.S. trade officials gained ground on their behalf in late negotiating rounds in Geneva.
February 28, 1988 |
James A. Baker III is sitting in his comfortable, ornate office on the third floor of the Treasury building, contemplating his remaining months on the job. His computer terminal, usually alive with up-to-the-second developments in the financial markets, is turned off. Baker's mind is on the November election--and the new Administration that will take over in January.
June 4, 1987 |
President Reagan arrived in Venice on Wednesday night for an upcoming economic summit conference, and his national security adviser said the President will press the allies here "for greater coordination, cooperation and support in the Persian Gulf." As Reagan crossed the Atlantic, the subject of the tense waterway through which much of Western Europe's oil must pass loomed ever larger as a key topic expected during the meeting of the major industrial democracies, which begins Monday.
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.
July 29, 1987 |
President Reagan, declaring that the "sky is the only limit" on futuristic applications of the new superconducting materials discovered in recent months, outlined a series of steps Tuesday designed to accelerate their commercial development ahead of the nation's foreign competitors.
December 27, 1989 |
Rarely has something so tasteless prompted so many claims of class. In the past year, at least 10 new labels of pricey imported vodka, shipped from such places as Iceland, Denmark, Poland and Norway, have swamped bar shelves and liquor stores. One upper-crust brand, Denaka, insists that it "stands out" from the rest. Another, Icy, swears it is an "absolute improvement," taking a swipe at its famous competitor, Absolut.
September 23, 1999 |
The failure of other countries to fix their Year 2000 computer problems could cause global disruptions that would "wash up on our shores," creating the potential for higher energy prices, supply shortages and even a mild economic downturn, a Senate panel said Wednesday.
April 15, 1994 |
When U.S. Trade Representative Mickey Kantor and officials of 124 other nations gather in Morocco today to sign the most far-reaching trade agreement ever written, don't expect a hearty cheer to rise with the searing heat of molten steel from the floor of the Bethlehem Steel factory.
July 6, 1992 |
William von Raab has no doubts about who torpedoed his decision to slap a 25% tariff on Japanese minivans when he was U.S. customs commissioner in 1989: It was James Lake, a former campaign adviser to President Bush turned influential lobbyist, intervening for the Japanese, he contends. As Von Raab tells it, his Customs Service ruling was unquestioned until Lake, who had served as a top campaign strategist for Bush in 1988 and is a confidant of former U.S. Trade Representative Clayton K.