U.S. STOCK MARKET OVERREACTS TO TARIFFS - YEUTTER U.S. Trade Representative Clayton Yeutter said the stock market overreacted to a U.S. decision last week to proceed with tariffs on some Japanese computer products. Speaking to reporters prior to testifying at a House Agriculture Committee hearing, Yeutter said it is "difficult to comprehend" that a trade decision affecting only 300 mln dlrs in goods caused the stock market collapse yesterday. "I have a hunch a lot of other things were involved in that (stock market fall), including simple profit-taking," Yeutter said. Yeutter said Japan would be sending a senior official from its trade ministry to Washington next week for talks on the computer chip dispute. "We will be glad to have him here, but that's not going to affect a decision that's already been made," Yeutter said. The decision announced last week would apply higher tariffs on a range of Japanese products in retaliation for the alleged failure of Tokyo to honor an agreement with the U.S. on semiconductor trade.