John B. Breaux: “in light of the disturbing news in the stock market this afternoon, I thought it was appropriate to the bring to the…”

“in light of the disturbing news in the stock market this afternoon, I thought it was appropriate to the bring to the attention of my colleagues that there is good news out there. The United States and Japan have concluded a trade agreement opening up the ports of Japan, ending a longstanding dispute between the United States and Japan. This agreement, when it is signed--and it is agreed to--will bring about changes that will benefit ocean-borne trade of both countries, the United States and Japan. The agreements will reform practices in the Japanese ports, to the benefit of importers, exporters, the ports, the workers, and the consumers both in the United States and Japan. This is good for trade relations between our two countries. The Japanese had for a long period of time prevented our ships from having the same rights to their ports, in terms of bringing our goods to that country, as we have afforded them when they came calling on ports in the United States. Therefore, this is good news for people who are engaged in trade relations and exports and import trade relations with Japan and the United States. I am very optimistic that this will bring about continued growth in those markets, and I want to commend the Federal Maritime Commission, its Chairman, Hal Creel, and members of the administration, particularly Stu Eizenstat, for the good work they have done in bringing this to a conclusion.”