ABSTRACT
The new trading environment of the 1990s presents the United States (US) with opportunities to both pursue its own particular economic self-interest as well as to advance its longstanding goal of greater openness in the world economy. The Community, for its part, is preoccupied with the process of converting economic confederation into political federation and economic union, as well as drawing the surrounding nations of the European Free Trade Area and of Eastern Europe into a new Community framework. The US Government will be forced to reassess its repugnance for the various domestic policy measures that are used by its trading partners as a means of addressing economic problems no longer susceptible to trade policy action. High technology will be a critical area of trade policy conflicts in the 1990s. Trade friction with South Korea is likely in several high technology sectors: semiconductors, telecommunications and certain types of advanced capital equipment.
