YEUTTER STRESSES IMPORTANCE OF TRADE TALKS U.S. Trade Representative Clayton Yeutter stressed the importance of trade negotiations to open foreign markets rather than trade restrictions in a statement to the Senate Finance Committee. "In the long term we cannot repeatedly bludgeon other nations into opening their markets with threats of U.S. restrictions. Rather, we must be able to negotiate credibly for global liberalization," Yeutter said. Yeutter did not mention the recent U.S. trade sanctions against Japanese semiconductors in his testimony on the pending trade bill. Yeutter said the trade bill should increase U.S. competitiveness, aid U.S. trade negotiating leverage, and avoid provoking foreign retaliation. He urged Congress to reject provisions that would mandate U.S. retaliation against foreign unfair trade practices. Yeutter emphasized the importance of the new multilateral trade negotiating round and called on Congress to quickly approve an extension of U.S. negotiating authority. "We want to open foreign markets and establish and enforce rules of international competition, not foster dependence on protection and subsidies," he said.