Showdown Time For U.S. Japan Trade?Douglas Harbrecht and Mike Mcnamee and Dean Foust
They talked tough and rattled sabers. But every time officials in the Clinton Administration pushed Japan to open its markets to U.S. products, their hard-nosed strategy backfired. Mere hints of a trade war sent the dollar tumbling overseas and stocks into a tailspin on Wall Street. The result: Washington's record with Tokyo is replete with face-saving compromises and few results.
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