Taiwan Opens Its Markets to U.S. Liquor, Tobacco
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WASHINGTON — The White House announced today that Taiwan has agreed to open its markets to U.S. beer, wine and cigarettes, ending a trade dispute that had prompted President Reagan to threaten retaliatory measures.
U.S. officials estimate that the accord will result in $150 million in new sales for U.S. manufacturers of the previously restricted products.
A written statement issued by the White House press office said the agreement “will accomplish the President’s goal of obtaining access for U.S. firms to Taiwan’s $1-billion annual retail beer, wine and cigarette market.”
The White House announced on Oct. 27 that Reagan had determined that Taiwan’s trade policies constituted unjustifiable restrictions on U.S. commerce and that Special U.S. Trade Representative Clayton Yeutter should propose appropriate retaliatory steps the United States could take.
The White House said today that intensive negotiations with Taiwan ensued, resulting in the accord.
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