WHITE HOUSE PANEL SAID URGING JAPAN RETALIATION The White House Economic Policy Council decided to recommend trade sanctions against Japan for violations of the U.S.-Japanese semiconductor agreement, industry sources said. They would give no details, noting that the White House had not commented on the decision. The administration has been under pressure to retaliate. There was no immediate announcement on the council's decision, but U.S. Officials said it was likely the senior policy group's move on curbs reflected growing American frustration over alleged unfair Japanese trade practices. U.S. Officials said President Reagan would probably act on the recommendations in a day or so, after consulting with aides on the foreign policy implications of retaliation. The officials said Reagan might delay retaliation for a last try to persuade Japan to abide by the agreement reached last July governing trade in semiconductors. Under a pact reached last July, Japan was to stop dumping semiconductors in world markets and to open its own market to U.S.-made semiconductors. In return, the U.S. Agreed to hold up imposing anti-dumping duties on Japanese semiconductor shipments. The United States said that dumping has stopped in the U.S. Market but has continued in third countries, and that the Japanese market remains closed. The pressure on Reagan to retaliate included a unanimous call by the Senate last week to impose penalties on Japanese high technology products containing semiconductors. A call for retaliation also came from the semiconductor industry and from its chief trade union. U.S. Officials said the most likely move against Japan would involve duties on semiconductor-based goods, such as televisions, video cassette recorders and computers.