The Nation : Reagan Assails Trade Bill

President Reagan stepped up his attack on protectionist trade legislation, saying that the measure being considered by the Senate “will have the worst possible consequences for the consumer and the American worker.” In his weekly radio address from the White House, Reagan said that the bill “will drive up the price of much of what we buy. But worse than that, it could drag us into an economy-destroying trade war . . . . The way up and out of the trade deficit . . . lies in improving our products and increasing our exports.” The trade deficit hit a record $166.3 billion last year.