The Nation - News from June 21, 1987
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A Joint Economic Committee report predicted the U.S. trade deficit with Japan would be cut as much as 13% if the Japanese lifted curbs to American agricultural products. In 1986, the United States exported goods totaling $27 billion to Japan while imports totaled $85 billion, leaving a $59-billion U.S. deficit. “If you tore down all of those barriers to agricultural products, it would mean that the Japanese would be able to buy steak--instead of paying $24 a pound as they do now, they’d pay $3 a pound--as we do in this country,” said Sen. Lloyd Bentsen (D-Tex.), who requested the report.
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