Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: WEDNESDAY, July 7, 1993 TAG: 9307070234 SECTION: NATIONAL/INTERNATIONAL PAGE: A-1 EDITION: METRO SOURCE: Associated Press DATELINE: TOKYO LENGTH: Medium
Just hours before the opening of the annual seven-nation economic summit, Clinton said Japan's persistent trade imbalance "has not just hurt American workers and businesses, it has hurt Japanese people." He said they were paying twice as much as they should for food because of trade restrictions.
Clinton's remarks in a speech to students at Waseda University underscored bitter economic tensions between the United States and Japan. Clinton and Prime Minister Kiichi Miyazawa said Tuesday they were committed to reaching an agreement to reduce trade friction.
The 19th annual summit of leading industrialized nations - the United States, Canada, Britain, France, Germany, Italy and Japan - opened amid modest expectations because of the political shakiness of the leaders and the weakness of their economies.
Security was tight. Two projectiles were fired at the U.S. military base, Camp Zama, on the outskirts of Tokyo. Police blamed radicals. There were no reports of injuries or damage at the base.
Clinton started his speech at Waseda University on a comical note, saying he'd forgotten to bring his earphones and thus could not understand what was being said in Japanese about him.
"Perhaps some day an American president will come here and give a speech to you in your native language," he said.
Clinton then went to the heart of U.S. complaints about Japan: its $50 billion trade surplus over the United States.
"This problem has fueled resentment in our country both from workers and businesses," he said.
In a broader message to all nations, Clinton called for a lowering of trade barriers as a step toward creating jobs.
"Together, we must resist the pressures that are now apparent in all wealthy countries to put up walls and to protect specific markets and constituencies in times of slow growth," he said.
"The only way wealthy countries can grow richer is if there is global economic growth and we can increase trade with people who themselves are growing more prosperous."
He said that "an essential starting point" is the completion of global trade talks by year's end.
by CNB