Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Perry who wrote (2516)	5/16/1998 11:54:00 AM
From: Perry	Read Replies (1) \| Respond to of 9523

The following article from WSJ has got to be a plus for PFE and the rest of the sector. Should we expect Viagra to be approved sooner in Japan because of this news? Perry ++++++++++++ May 15, 1998 U.S. and Japan Reach Trade Deal For Unfettered Electronic Commerce Associated Press BIRMINGHAM, England -- The U.S. and Japan struck a deal to keep the Internet tax-free and expand sales opportunities in the huge Japanese market for U.S. telecommunications, drug and financial firms. President Clinton praised the trade breakthroughs and an administration official said they would be worth billions of dollars in sales for American companies. The announcements came as President Clinton met with Japanese Prime Minister Ryutaro Hashimoto, a meeting in which both leaders went out of their way to put aside past disagreements. "The American people should feel good about our relationship with Japan," Mr. Clinton said. For his part, Mr. Clinton, who had openly accused Japan of not doing enough to deal with the Asian financial crisis, praised Mr. Hashimoto's latest economic stimulus plan, a $125 billion package of tax cuts and spending increases that the Japanese insist will finally do the trick of jump-starting Japan's economy. The trade agreement was announced after all-night negotiations in Birmingham, England, ahead of the Group of Eight summit this weekend. Mr. Hashimoto said that for the Asian economies to recover, both the U.S. and Japan need to be "as open as possible" on trade matters. He said he expected the United States to make some concessions on deregulation. "This is a two-way dialogue," Mr. Hashimoto said. The deal on the Internet, which the U.S. hailed as evidence of Japan's willingness to deregulate its economy, commits the world's two largest economies to not impose restrictions on electronic commerce, encouraging self-regulation by Internet users themselves. U.S. and Japanese negotiators worked through the night trying to complete work on the package of trade agreements. The areas covered included reducing high connection charges Japanese companies had been imposing to keep big U.S. telecommunications out of the Japanese market. The other deals covered: Deregulation of housing codes to allow use of more U.S. lumber in construction of new homes. Simplifying the approval process for U.S. and other foreign drug companies seeking to introduce new medicines in the Japanese market. Reform of Japan's laws restricting the placement of large retail stores and regulations that have severely limited big U.S. retailers from the Japanese market. Deputy U.S. Trade Representative Richard Fisher said the combined impact of the trade deals should be worth "big dollars. This will be worth billions and billions of dollars." The Japanese leader was in a relaxed, playful mood as he sat next to Mr. Clinton. He held out the boom microphone for an American radio reporter who couldn't reach the U.S. president. Referring to Mr. Clinton, Mr. Hashimoto said, "He is the big brother to me, so I will listen to advice from my big brother so that we can work together on many important issues." Mr. Clinton invited Mr. Hashimoto to visit the U.S. in July, apparently seeking to sooth ruffled Japanese feelings over his planned visit to China in June. The Japanese had been unhappy over the fact that Mr. Clinton's trip did not include a stop-over in Japan. Mr. Hashimoto joked that he would be happy to accept if his wife lets him make the trip. The Japanese leader faces plunging support ratings at home and the prospect of losing office if public sentiment about Japan's ailing economy does not improve.