TRADE

U.S. Awaits Japanese Reply in Microchip Dispute: The United States was awaiting Japan’s reply to its latest ideas on resolving a dispute over microchips as APEC trade ministers opened a two-day meeting in Christchurch, New Zealand. The two sides have just over two weeks to settle their differences over microchips, one of several disputes causing trade tensions between the two biggest economies of the Asia-Pacific Economic Cooperation forum. A U.S. spokesman said negotiators on the microchip dispute had presented Japan with a paper covering access to Japan’s market, anti-dumping measures, government-to-government relationships and information-sharing within the industry. The ministers at the trade meeting are due to review progress in implementing the last round of global trade accords in 1994 and examine unfinished business in areas such as telecommunications.