TRADE AND ECONOMIC RELATIONS WITH JAPAN.

SEC. 1306. TRADE AND ECONOMIC RELATIONS WITH JAPAN. (a) Findings.— The Congress finds that— (1) the United States is at a critical juncture in bilateral relations with Japan; (2) the balance of trade between the United States and Japan has deteriorated steadily from an already large United States deficit of $10,400,000,000 in 1980 to an unprecedented United States deficit of $57,700,000,000 in 1987, a magnitude that is simply untenable; (3) approximately 90 percent of the increase in total trade between the United States and Japan since 1980 has been in Japanese exports to the United States; (4) United States exports to Japan have not significantly benefited from appreciation of the yen; (5) the United States deficit in the balance of trade in manufactured goods is growing: in 1987 Japan exported $82,500,000,000 of manufactured goods to the United States, while the United States exported $14,600,000,000 in manufactured goods; 102 STAT. 1183 (6) Japan accounts for 49 percent of the worldwide deficit of the United States in the balance of trade in manufactured goods, calculated on a customs basis; (7) our trade and economic relations with Japan are complex and cannot be effectively resolved through narrow sector-by-sector negotiations; (8) a major problem between the United States and Japan is the absence of a political will in Japan to import; and (9) meaningful negotiations must take place at the highest level, at a special summit of political leaders from both countries. (b) Sense of the Congress.— (1) It is the sense of the Congress that the President should propose to the Japanese Prime Minister that a special summit be held between the leaders of the United States and Japan for the purpose of— (A) addressing trade and economic issues, and (B) establishing— (i) an agreement that provides objectives for improvement in trade and economic relations, and (ii) targets for achieving these objectives. (2) The delegation of the United States to the summit meeting described in subsection (a) should include— (A) Members of Congress from both political parties, and (B) appropriate officers of the executive branch of the United States Government. (3) The delegation of Japan to the summit meeting described in subsection (a) should include— (A) representatives of all political parties in Japan, and (B) appropriate officers of the Government of Japan.