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future growth, but the investment climate nature swaps in countries that have set up remains clouded, weighted down by the such programs. These actions will be taken heavy debt burden. Under the Brady plan, on a case-by-case basis. we are making significant progress. The

One measure of prosperity and the most agreements reached with Mexico and Costa

important long-term investment any nation Rica and Venezuela are already having a

can make is environmental well-being. As positive impact on investment in those

part of our Enterprise for the Americas Inicountries. Mexico, to take just one example,

tiative, we will take action to strengthen has already seen a reversal of the destruc

environmental policies in this hemisphere. tive capital flight that drained so many Debt-for-nature swaps are one example, Latin American nations of precious invest

patterned after the innovative agreements ment resources. That's critical. If we restore

reached by some Latin American nations confidence, capital will follow.

and their commercial creditors. We will also As one means of expanding our debt call for the creation of environmental trusts, strategy, we propose that the IDB add its where interest payments owed on restrucefforts and resources to those of the Inter- tured U.S. debt will be paid in local currennational Monetary Fund and the World cy and set aside to fund environmental Bank to support commercial bank debt re- projects in the debtor countries. duction in Latin America and the Caribbe

These innovative agreements offer a powan, and as in the case of World Bank and

erful new tool for preserving the natural IMF, IDB funds should be directly linked to

wonders of this hemisphere that we share. economic reform.

From the vistas of the unspoiled Arctic to While the Brady plan has helped nations the beauties of the barrier reef off Belize to reduce commercial bank debt, for nations the rich rain forests of the Amazon, we with high levels of official debt-debt owed

must protect this living legacy that we hold to governments rather than private finan- in trust. For an increasing number of our cial institutions—the burden remains heavy. neighbors, the need for free-market reform And today, across Latin America, official is clear. These nations need economic debt owed to the U.S. Government amounts breathing room to enact bold reforms, and to nearly $12 billion, with $7 billion of that this official debt initiative is one answer, a amount in concessional loans. And in many way out from under the crushing burden of cases, the heaviest official debt burdens fall

debt that slows the process of reform. on some of the region's smallest nations,

I know there is some concern that the countries like Honduras and El Salvador

revolutionary changes we've witnessed this and Jamaica.

past year in Eastern Europe will shift our That's a problem we must address today. attention away from Latin America; but I As the key component in addressing the want to assure all of you here today, as I've region's debt problem, I am proposing a assured many democratic leaders in Central major new initiative to reduce Latin Amer

and South America and the Caribbean and ica and the Caribbean's official debt to the Mexico, the United States will not lose sight United States for countries that adopt of the tremendous challenges and opportustrong economic and investment reform nities right here in our own hemisphere. programs with the support of international And indeed, as we talk with the leaders of institutions.

the G-24 about the emerging democracies Our debt reduction program will deal in Europe—I've been talking to them also separately with concessional and commer

about their supporting democracy and ecocial types of loans. On the concessional nomic freedom in Central America. Our debt, loans made from AID or Food for aim is a closer partnership between the Peace accounts, we will propose substantial

Americas and our friends in Europe and in debt reductions for the most heavily bur

Asia. dened countries. And we will also sell a Two years from now, our hemisphere will portion of outstanding commercial loans to celebrate the 500th anniversary of an epic facilitate these debt-for-equity and debt-for- event: Columbus' discovery of America, our New World. And we trace our origins, our of the proposed rescissions are contained in shared history, to the time of Columbus'

the attached report. voyage and the courageous quest for the advancement of man. Today the bonds of

George Bush our common heritage are strengthened by the love of freedom and a common commit

The White House, ment to democracy. Our challenge, the June 28, 1990. challenge in this new era of the Americas, is to secure this shared dream and all its fruits Note: The attachment detailing the profor all the people of the Americas-North, posed rescissions was printed in the "FederCentral, and South.

al Registerof July 6. The comprehensive plan that I've just outlined is proof positive the United States is serious about forging a new partnership with our Latin American and Caribbean

Statement on the Japan-United States neighbors. We're ready to play a construc- Trade Negotiations tive role at this critical time to make ours the first fully free hemisphere in all of histo: June 28, 1990 ry. Thank you all for coming and God bless

Last year the United States and Japan the peoples of the Americas. Thank you

launched a new cooperative endeavor in very, very much, indeed.

economic policy called the Structural Impediments Initiative. This initiative is de

signed to address underlying structural Note: The President spoke at 2:48 p.m. in the East Room at the White House. In his problems in both of our economies with the

goal of contributing to more open and comopening remarks, he referred to Secretary of petitive markets and to the reduction of the Treasury Nicholas F. Brady; U.S. Trade Representative Carla A. Hills; Secretary of group was formed to identify and solve

payments imbalances. A joint working Commerce Robert A. Mosbacher; William H. Webster , Director of Central Intelligence; discussions have demonstrated the construc

these problems. Over the past year, these Barber B. Conable, Jr., President of the World Bank, which is also known as the

tive and cooperative spirit which characterInternational Bank for Reconstruction and

izes the relationship between our two coun

tries. Development; and Richard D. Erb, Deputy Managing Director of the International

The joint report of the SII working group Monetary Fund. The President also referred

has just been issued in Tokyo, following up to the Group of 24, the industrialized de- an interim report issued in April. I welcome mocracies that have pledged support for eco

and endorse this joint report. Both counnomic and political reform in Poland and

tries have identified structural impediHungary

ments, taken initial corrective actions, and made commitments to take further steps to resolve a wide range of structural problems. We expect that the structural policy actions

to be taken will have a positive effect on Message to the Congress Reporting our economies, encouraging open and comBudget Rescissions

petitive markets, promoting sustained world June 28, 1990

economic growth, contributing to a reduc

tion in global payments imbalances, and enTo the Congress of the United States:

hancing the quality of life in both Japan and In accordance with the Impoundment the United States. Although our efforts on Control Act of 1974, I herewith report SII are bilateral, the effects will be benefieight

proposed rescissions totalling cial for the entire world. $327,375,000.

I particularly welcome the clear commitThe proposed rescissions affect programs ment by Japan to reduce further its current of the Department of Defense. The details account surplus and view the SII process as an important framework in which the un- Proclamation 6151—Modification of derlying causes of trade imbalances can be Import Restrictions for Certain removed.

Agricultural Products Removing structural impediments is a June 28, 1990 two-way street. As Japan tackles its structural problems, so must the United States. In By the President of the United States particular, I look forward to working closely of America with the Congress on efforts to strengthen

A Proclamation both public and private saving and to reduce our budget deficit through the ne- 1. Prior to January 1, 1989, the President gotiations now underway.

by various proclamations had imposed fees Both our governments recognize that fur

or quantitative limitations on the importather effort will be necessary in order to

tion of certain agricultural commodities and address fully these structural problems and

products thereof under the authority of sec

tion 22 of the Agricultural Adjustment Act to maintain the momentum of our adjust

of 1933, as amended (7 U.S.C. 624) (hereinment efforts. I am pleased that an effective

after section 22). Section 22 requires the follow-on mechanism has been established.

President to impose fees or quantitative Continuing success on SII can help us move

limitations on the importation of any article away from trade disputes, thus allowing us

if he finds, on the basis of a recommendato focus our efforts on more positive activi

tion by the Secretary of Agriculture and an ties as we continue to develop a global part- investigation and report of findings by the nership between our two countries.

United States International Trade CommisThe personal efforts of Prime Minister sion, that such fees or quantitative limitaKaifu were responsible in large measure for tions are necessary to prevent such article the substantial progress on our joint effort from being imported into the United States to address these structural problems. I com

under such conditions and in such quantimend Prime Minister Kaifu for his strong

ties as to render or tend to render ineffecand courageous political leadership. I look

tive, or materially interfere with, any proforward to a full range of discussions with gram or operation undertaken by the DePrime Minister Kaifu when we meet July 7

partment of Agriculture with respect to any in Houston.

agricultural commodity or product thereof, or to reduce substantially the amount of any product processed in the United States from any agricultural commodity or product

thereof with respect to which any such proMessage to the Congress Transmitting gram or operation is being undertaken. the Annual Report of the Federal

Such fees and quantitative limitations imCouncil on the Aging

posed by the President pursuant to section June 28, 1990

22 were set forth in part 3 of the Appendix

to the Tariff Schedules of the United States To the Congress of the United States:

(TSUS) and are now provided for in subIn accordance with section 204(f) of the

chapter IV of chapter 99 of the Harmo

nized Tariff Schedule of the United States Older Americans Act of 1965, as amended (42 U.S.C. 3015(f)), I hereby transmit the

(HTS).

2. In addition, by Proclamation No. 4334 Annual Report for 1989 of the Federal

of November 16, 1974 (39 Fed. Reg. 40739), Council on the Aging. The report reflects

the President had established an import the Council's views in its role of examining quota for certain sugars, syrups and molasprograms serving older Americans.

ses, to become effective on January 1, 1975, George Bush as provided for in headnote 3 to subpart A,

part 10, schedule 1 of the TSUS. SubseThe White House,

quent proclamations have modified such June 28, 1990.

quota. In issuing Proclamation No. 4334 and such subsequent proclamations, the Presi- headnote, being included within such redent acted in conformity with headnote 2 strictions. to subpart A, part 10, schedule 1 of the 5. I find that the conversion of import TSUS (the sugar headnote). The provisions restrictions proclaimed pursuant to section of headnotes 2 and 3 of subpart A, part 10, 22 from part 3 of the Appendix to the TSUS schedule 1 of the TSUS are now set forth, to subchapter IV of chapter 99 of the HTS respectively, in additional U.S. notes 2 and has resulted in certain articles previously 3 to chapter 17 of the HTS. The current subject to such restrictions being excluded provision authorizes the President to from the restrictions and that certain other modify any quota limitation established for

articles not previously subject to such recertain sugars, syrups and molasses provid- strictions being covered by such restriced for in subheadings 1701.11, 1701.12, tions. Such changes in the coverage of those 1701.91.20, 1701.99, 1702.90.30, 1702.90.40, restrictions have occurred for the following 1806.10.40 and 2106.90.10 of the HTS if he articles: sweetened dried low fat milk classifinds that such modification is required or fiable in subheading 0402.10; sweetened appropriate to give due consideration to the

dried whey classifiable in subheading interests in the United States sugar market 0404.10.40; dried yogurt classifiable in subof domestic producers and materially affect- heading 0403.10; acidified milk, dried fered contracting parties to the General mented milk and milk powder containing Agreement on Tariffs and Trade (GATT). added lactic ferments or crystalline acid

3. Section 1204(a) of the Omnibus Trade classifiable in subheading 0403.90.80; edible and Competitiveness Act of 1988 (the 1988 mixtures of animal fats and vegetable oils Act) (19 U.S.C. 3004(a)) enacted the HTS, classifiable in subheading 1517.90.40; cereffective January 1, 1989. The structure and tain fish preparations classifiable in subrules of interpretation of the HTS are dif- headings 1604.20.05, 1605.10.05 and ferent from the structure and rules of inter- 1605.90.05; sugar syrups subject to section pretation of the TSUS. While every effort 22 fees classifiable in heading 1702; sugar was made to take account of these differ- confectionery not ready for consumption ences in the conversion to the nomencla- classifiable in subheading 1704.90.60; white ture and structure of the HTS of import chocolate classifiable in subheading restrictions previously imposed under the 1704.90.40; filled chocolates classifiable in authority of section 22 and in conformity subheading 1806.31; certain edible preparawith the

the sugar headnote, unforeseen tions containing cocoa classifiable in subchanges occurred in the treatment of cer- headings 1806.20.80, 1806.32.40, 1806.90 tain imported agricultural products with re- and 1901.90.80; mixes and doughs classifispect to these import restrictions.

able in subheading 1901.20; mixtures of 4. Section 1211(c) of the 1988 Act (19 nonfat dry milk and anhydrous butterfat U.S.C. 3011(c)) provides that the President containing over 5.5 percent but not over 45 may proclaim changes in subchapter IV of percent by weight of butterfat classifiable in chapter 99 of the HTS and in additional subheading 1901.90.30; certain casein mixU.S. note 2 to chapter 17 of the HTS to tures classifiable in subheading 1901.90.40; conform them to part 3 of the Appendix to rusks and toasted bread classifiable in subthe TSUS and headnote 2 of subpart A of heading 1905.40; mixed canned fruit classipart 10 of schedule 1 of the TSUS, respec- fiable in subheading 2008.92.90; sauces and tively. Such changes may be proclaimed if sauce preparations classifiable in subheadthe President determines that conversion ing 2103.90.60; edible ices containing cocoa from the TSUS to the HTS has resulted in classifiable in subheading 2105.00; and sherarticles previously subject to import restric- bet and other edible ice with a basis of milk tions proclaimed pursuant to section 22, or or cream classifiable in subheading 2105.00. covered by such sugar headnote, being ex- I further find that the modifications hereincluded from those restrictions, or articles after proclaimed of the import restrictions previously excluded from the import re- set forth in subchapter IV of chapter 99 of strictions proclaimed pursuant to section 22, the HTS are necessary and appropriate to or not previously covered by such sugar conform that subchapter to the fullest

extent possible to part 3 of the Appendix to United States of America the two hundred the TSUS.

and fourteenth. 6. I find that the conversion from head

George Bush note 2 of subpart A of part 10 of schedule 1

[Filed with the Office of the Federal Regisof the TSUS to additional U.S. note 2 to

ter, 5:02 p.m., June 28, 1990] chapter 17 of the HTS has resulted in an article, edible molasses classifiable in sub

Note: The annex to the proclamation was heading 1702.90.40, that was not previously printed in the Federal Registerof July 2. covered by such headnote being included in the coverage of the quota set forth in additional U.S. notes 3 and 4 to chapter 17 Message to the Senate Transmitting of the HTS. I further find that the modifica- Protocols to Soviet-United States tions, hereinafter proclaimed, of additional Treaties on Underground Nuclear U.S. note 2 to chapter 17 of the HTS and of Testing the quota on the importation of certain June 28, 1990 sugars, syrups and molasses set forth in additional U.S. notes 3 and 4 to chapter 17 of To the Senate of the United States: the HTS are required or appropriate to give I transmit herewith, for the advice and due consideration to the interests in the consent of the Senate to ratification, the United States sugar market of domestic pro- Protocol to the Treaty Between the United ducers and materially affected contracting States of America and the Union of Soviet parties of the GATT and to conform such Socialist Republics on the Limitation of Unquota to the fullest extent possible to the derground Nuclear Weapon Tests, and the coverage of the quota previously established

Protocol to the Treaty Between the United in conformity with headnote 2 of subpart A States of America and the Union of Soviet of part 10 of schedule 1 of the TSUS.

Socialist Republics on Underground Nuclear 7. Section 604 of the Trade Act of 1974, Explosions for Peaceful Purposes (the Protoas amended (19 U.S.C. 2483), authorizes the cols). The Protocols were signed at WashPresident to embody in the HTS the sub- ington on June 1, 1990. I transmit also, for stance of the provisions of that Act and of the information of the Senate, the Report of other Acts affecting import treatment and the Department of State on the Protocols, of actions taken thereunder.

including section-by-section analyses of the

Protocols and letters exchanged by the Now, Therefore, I, George Bush, President of the United States of America, acting Talks, which will implement certain aspects

Heads of Delegation to the Nuclear Testing under the authority vested in me by the

of the Protocol to the Treaty on the LimitaConstitution and laws of the United States, including but not limited to section 1211(c) Tests.

tion of Underground Nuclear Weapon of the Omnibus Trade and Competitiveness

The Protocols provide for effective verifiAct of 1988, additional U.S. note 2 to chap

cation of compliance with the Treaty on the ter 17 of the HTS, and section 604 of the

Limitation of Underground Nuclear Trade Act of 1974, do proclaim that:

Weapon Tests, signed on July 3, 1974, and (1) The HTS is modified as provided in the Treaty on Underground Nuclear Explothe annex to this proclamation.

sions for Peaceful Purposes, signed on May (2) The modifications made by this procla- 28, 1976 (the Treaties). These Treaties, mation shall be effective with respect to

which limit the yield of nuclear weapon articles entered, or withdrawn from ware

tests and individual nuclear explosions for house for consumption, on or after July 1, peaceful purposes to no more than 150 kilo1990.

tons, were transmitted to the Senate for its

advice and consent to ratification on July In Witness Whereof, I have hereunto set

29, 1976. The Protocols replace, and should my hand this twenty-eighth day of June, in be substituted for, the protocols that were the year of our Lord nineteen hundred and submitted with the Treaties at that time. In ninety, and of the Independence of the addition, the Administration remains com

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