Imports: Free Trade's Narrow Victory

It was a crucial test of President Reagan's ability to withstand the forces of protectionism. Opponents of the White House's free-trade philosophy had mounted a move in the House of Representatives to override Reagan's veto of a bill to curb imports of textiles and shoes. But when the debate ended last week, the bill's backers fell eight votes short of the two-thirds majority necessary for an override. The final tally: 276 in favor of the proposal, 149 opposed.

The vote angered the affected industries. Says Roger Milliken, who heads the New York-based Milliken textile firm: "We were up against a doctrinaire belief in pure free trade." Opponents of the bill argued that its passage would have provoked retaliation from trading partners.

Quotes of the Day »

Get & Share
A POSTING on Golf.com from an anonymous player who said President Obama and his friends moved painfully slowly on the links
For use in rail of Articles page or Section Fronts pages. Duplicate and change name as necesssary to distinguish.

Time.com on Digg

POWERED BY digg

Quotes of the Day »

Get & Share
A POSTING on Golf.com from an anonymous player who said President Obama and his friends moved painfully slowly on the links

Stay Connected with TIME.com