(Archived document, may contain errors) 533 I September 10, 1986 A US. STRATEGY AT THE GATT TRADE 'TALKS INTRODUCTION Pressures for increased trade protectionism have been greater in the United States this year than at any time since World War 11. Only Ronald Reagan's veto stopped a bill that would have cut back textile and apparel imports drastically. And Congress still is threatening to pass an omnibus trade bill that would make it easier for industries to gain protection against their f oreign competitors.
(Archived document, may contain errors) 1014 January 16,1995 A BUDGET STRATEGY TO REINVENT THE FEDERAL GOVERNMENT INTRODUCTION President Bill Clinton soon will submit his fiscal 1996 budget to a Congress commit ted to changing Washingtons spending and taxing priorities. In apparent response to the election results, and to the House Republicans Contract With America, Clinton last month announced a plan for a mode st $60 billion tax cut to be financed by reforms in five agencies such as the Departments of Energy, Housing and Urban Development, and Transportation.
Even as the U.S. trade deficit begins to climb out of the red, as the U.S. manufacturing sector grows more efficient, and as the U.S. economy continues to add hundreds of thousands of ne@v jobs, Congess is playing with an economically dangerous loaded gun protectiomst trade legislation. ne House of Representatives has passed a bill, H.R. 3, which would force the President to erect protectionist barriers against countries ru ing arbitrarily defined "excessive" trade surpluses with the U.S. Economists, liberal and conservative, denounce this as economic suicide. Now the Senate will flirt with protectionism as S. 490 reaches the floor for debate in the coming weeks. ne U.S. trade deficit has fueled much of Congress' drive for trade legislation. These measures in part are aimed at opening foreign markets further to U.S. goods, but they also would close the U.S. market to imports. These bills seriously misunderstand the causes of the U.S. trade imbalance. Foreign protectionis