JAPANESE IMPORTATION OF MANUFACTURED GOODS FROM LESS DEVELOPED COUNTRIES.

SEC. 2208. JAPANESE IMPORTATION OF MANUFACTURED GOODS FROM LESS DEVELOPED COUNTRIES. (a) Findings.—The Congress finds that— (1) Japan’s merchandise trade surplus rose from $62,000,000,000 in fiscal year 1985 to $101,000,000,000 in fiscal year 1986; (2) these surpluses pose a grave threat to the free trade system; (3) Japan’s most important contribution to the international trading system would be to commit itself as a nation to import with vigor, just as it has exported with vigor in recent decades; (4) Japan should particularly increase its imports of manufactured goods; and (5) Japan’s share of the exports of less developed countries has declined from 10.6 percent in 1979 to below 8 percent in 1985. (b) Sense of Congress.—It is the sense of the Congress that— (1) by taking its proportionate share of the manufactured exports of developing countries, Japan will promote not only its economic development but the economic conditions conducive to democracy; (2) expanding markets for the manufactured exports of less developed countries will directly benefit the United States, and, if less developed countries are able to increase exports to Japan, these countries will be able to earn more of the hard currency needed to service their foreign debt obligations and make the investments necessary to chart a course of solid economic growth; and (3) if less developed countries are able to export manufactured goods to Japan, they will be under less pressure to divert exports to the United States market.