REAGAN SAYS TRADE BILL FACES VETO IN PRESENT FORM President Reagan said he would veto a House-passed trade bill requiring mandatory retaliation for "unfair trade" if it reached its desk in its present form. In a statement at a White House meeting with Senate Republicans on the legislation, he said: "I would have no choice but to veto that bill in its present form." He said the measure "would move us exactly in the wrong direction" towards high tariffs, trade barriers, trade distorting subsidies, slow growth and crimped world markets, and would destroy jobs.