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Article: REAGAN PROMISES TRADE BILL VETO, BUT WON'T LIFT EXISTING SANCTIONS
- Article from:
- THE JOURNAL RECORD
- Article date:
- May 1, 1987
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON -President Reagan
promised Prime Minister Yasuhiro Nakasone on Thursday he would veto
legislation requiring trade retaliation against Japan, but he
refused to lift sanctions already in place without evidence Tokyo
has stopped unfair sales practices.
In a move that pleased U.S. officials, Nakasone told Reagan he
had directed the Bank of Japan and the Finance Ministry to lower
short-term interest rates.
Lower interest rates would stimulate economic growth in Japan,
providing ``a major opportunity for increasing markets for U.S.
goods, for increasing the buying power of Japan,'' said presidential
spokesman Marlin Fitzwater.
``Anything that stimulates markets abroad is good ...