U.S. TREASURY ANNOUNCES OECD TIED-AID PACT U.S. Treasury Secretary James Baker said an agreement has been reached by members of the Organization for Economic Cooperation and Development (OECD) to control the unfair trade practice of using tied aid to promote trade. He said in a statement the agreement culminates the Reagan administration's effot to negotiate a virtual end to export credit subsidies. The practice of other governments using tied aid or mixed credits to promote exports has cost the United States lost jobs and lost exports, the Treasury said. The agreement to be implemented in two stages by July, 1988 would ban tied aid credit among industrialized countries and place limits on permitted aid by developing countries. It would also reduce export credits that do not involve aid and reduce credit subsidies permitted for relatively poor countries, the Treasury said. Baker said the agreement imposes particular sacrifices on Japan and praised Japan's willingness to accept the pact as a demonstration of the Japanese government's willingness to take concrete steps to resolve important trade issues.