July 19, 1989 |
The nation's stubborn trade deficit took an unexpected turn for the worse in May, ballooning to $10.24 billion, well above the 1989 low of $8.29 billion recorded in April, the Commerce Department said Tuesday. Imports were the main reason for the deeper lurch into the red, as often has been the case in the past. U.S. business, still on an investment boom, continued to import nearly $20 billion in capital goods and industrial materials, which together counted for more than half of May's $1.
July 23, 1990 |
In 1988, when the U.S. Commerce Department picked Newport Beach as the site of its first regional Bureau of Export Administration office, high-technology companies in Silicon Valley were understandably miffed. After all, Orange County's high-tech industry has nowhere near the number of companies that have settled in the technology hotbed in and around San Jose. But the export numbers coming out of the county the following year proved the Commerce Department right.
March 2, 1988 |
The words and images are disarmingly simple; just a few short sentences about trade fairness, a few quick pictures of blue-collar workers and an earnest-looking Dick Gephardt standing in the Iowa cold. But put together, those words and images become 60 seconds worth of powerful and stirring television, a political commercial that has already changed the course of the 1988 Democratic presidential campaign.
August 24, 2001 |
Trade skirmishes are erupting on America's north and south borders and across both oceans. Disputes are flaring over steel, lumber, high technology and movie production, to name a few industries. As typically happens when the global economy turns down and job losses mount, political pressure for protectionist measures is starting to build, both in the United States and abroad.
September 25, 1994 |
Looking for a new car and you want to buy American? Good luck. Buyers have long been confused about what actually constitutes an "American" car. Is a Pontiac Firebird made in Canada with a U.S.-built engine more American than a Nissan Altima made in Tennessee with an engine from Japan? Such questions have only gotten harder to answer as the auto industry becomes more global, foreign auto makers move more production to the United States and trade tensions periodically erupt.
June 30, 1988 |
Led by General Motors, Ford and Boeing, the nation's top exporters had a banner 1987, as a cheaper dollar pushed overseas sales up and in turn helped chip away at the trade deficit, Fortune magazine says. Exports by Fortune's 50 top-ranked companies rose 8% to nearly $80 billion last year, while total U.S. exports jumped 11% to $253 billion, the largest one-year increase this decade, the magazine said in its July 18 issue. And more encouraging, the trend shows no sign of abating.
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.