Masonry Magazine June 1989 Page. 32
WASHINGTON WIRE
continued from page 30
He hopes to prevent a total repeal of the provision.
Pressures are growing for a shift in trade policy to "managed trade," imposing quantitative targets for American exports on U.S. trading partners. The pressures are stemming from discouragement over the U.S. trade balance. After falling to $126.5 billion in 1988, the trade deficit is growing again. The demand is for a "results oriented" policy, rather than just free trade. Numerical targets would be set for the volume of exports, sector by sector, that foreign nations would be expected to purchase in the course of a year. If they failed to reach the volume, the U.S. would retaliate against them.
The Administration opposes this approach to solve the problem. It regards the concept as a threat to an open-trading system.
The U.S. plan to deal with Third World debt is entering a risky stage. The proposal has raised expectations of indebted countries seeking relief-including granting greater debt forgiveness on the part of commercial banks. But it is clear that the U.S.-backed proposal is far from fully thought out and lacks substantial support from other countries, especially from Japan. Debtor nations complain the amount of debt relief about 20%-isn't enough. For Mexico, 20% would still leave it paying $8V billion a year in interest. This wouldn't be the first time a gap has existed between hopes and reality. But many are disturbed by the void in leadership by industrialized nations.
TAX MATTERS
continued from page 18
ness to pay for the shares of the nonbusiness children over a period of years as allowed by the cash flow of the business. Get an experienced consultant to help you make sure the plan is properly structured.
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