TRADE

U.S. Drops Threat Against Japan: The government withdrew the threat of trade sanctions after the two countries reached agreement on plans to open Japan’s lucrative government construction market to foreign firms. U.S. Trade Representative Mickey Kantor said that after reviewing a plan by Japan’s Cabinet to open up the bidding process for major public works projects, the Clinton Administration decided to withdraw the threatened sanctions. The deadline for reaching agreement was today. The plan will cover central government construction projects worth at least $7.69 million each and projects sponsored by public corporations that are worth at least $25.69 million.