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Economy / Trade Bill / US-Japan #313009

CBS Evening News for Wednesday, Oct 14, 1987
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(Studio: Dan Rather) Report introduced.

(Studio: Ray Brady) Terrible trade figures causing investors to frantically sell reported Japan said to blame. Stk. market scenes shown; figures graphed. Japan's machine tools said inundating American market [Hardinge Machine Tool Company Robert AGAN - says American machine tool industry in deep trouble.] For. share of United States market graphed. [Machine Tool Builders Association James GRAY - says Japan has purposefully chosen which areas of United States industry to attack.] [Ind. analyst Eli LUSTGARTEN - says Japanese began competing fiercely with weak American companies] President Reagan's visit to Harley-Davidson discussed. [REAGAN - says this is the home of the American A-Team.] Harley-Davidson's purchase of Japanese machine tools mentioned. General Motors' buying from Japan detailed. [GM executive Lewis CAMPBELL - says General Motors Corporation prefers to buy American but Japan won out.] Japanese government's aid and incentives to business cited. [Giddings and Lewis Company William FIFE - says United States needs a strong trade bill to protect industry] Protectionist stance being strengthened by trade figures noted.

(Studio: Dan Rather) Report introduced.

(Tokyo, Japan: Barry Petersen) Unflattering view of United States by Japan noted. [STUDENTS - say if Japan went to war in the future, it would probably be with US.] Percentages graphed. [Japanese MAN - (thru translator) says the students are reflecting what they hear from adults.] Video of American Congress destroying Japanese products reported shown repeatedly on Japanese TV. [Japanese MAN - says the Japanese see United States insulting them and are reacting emotionally.] [American MAN - tells Japanese business that if they employed small reductions, there would only be a small loss of profit.] [Japanese BUSINESSMAN - says if Japan and United States discontinue trade, no one would be happy.] More downward pressure in response to trade figures said expected from Japanese.

Brady, Ray;
Petersen, Barry;
Rather, Dan

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