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Washington Outlook: Capital Wrapup

TRADE

President Clinton's first meeting with new Japanese Prime Minister Tomiichi Murayama in Naples on July 8, went so poorly--despite public claims to the contrary--that the White House has resolved to play hardball on trade talks with Tokyo. Murayama's refusal to make any market-opening concessions is prompting the Administration to open an investigation in late July of Japanese government procurement practices. That could lead to tariffs on some Japanese exports. "There's a sense of utter frustration with the Japanese government," fumes a White House official.EDITED BY OWEN ULLMANN


The Aging of Abercrombie & Fitch
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