This article discusses the frustrations both sides of the Atlantic regarding security, commercial and monetary policies. It suggests, however, that with the European Community, Japan and the USA all in difficulties together they might now possess the political will to arrest through negotiations...

In implementing the Multilateral Textile Agreement the European Community opted for the instrument of export self-restraint agreements which - in contrast to unilaterally imposed restrictions - may already be concluded before a threatening market disruption has actually materialized. On the...