50% Increase Expected In Deficit With Japan: U.S. Expecting 50% Increase In Trade Deficit With Japan
Pg-PJ----------------------------------------------------------------------------------------------------------</br></br>OISO, Japan, Sept. 2 ÛÓ U.S. Special Trade Representative William Brock revealed tonight that the American trade deficit with Japan will be up almost 50 percent this year to $14 billion or $15 billion. He described this as an "enormousÛ gap that is likely to restimulate protectionist pressures at home.</br></br>It was the first official estimate of the 198 L bilateral trade deficit with Japan, and Brock told a reporter that the larger deficit represented increased 'imports across the board, stimulated by a cheaper yen. This is one of the consequences of the soaring value of the U.S. dollar in response to high American interest rates.</br></br>high-level private gathering of Japanese and American leaders called the Shimoda Conference after the Japanese city where the first such meeting was held in 19.59. He is completing a swing of 10 southern Asian nations, which he said constitute ÛÏthe most exciting region in the world.Û</br></br>Brock told the conference that the increasing Japanese trade surplus makes it imperative that this nation "open its markets much wider,Û even though there have been substantial liberalizations of import regulations, some of which the American public does not know about.