the US really isn't in a position to make any tariff reduction offers. We wil, however, be looking at some measures in the deregul on area perhaps in telecommunications. transportation and energy reduce its These comments tend to confirm that the USA is not likely to made in traditional market access barriers beyond the binding commitments the Uruguay Round, which have already been authorized by Congress, However, as long as the US does offer a worthwhile set of unilateral decisions to ease regulations which impede international commerce, other APEC participants should be content to allow the US to lag behind in traditional trade liberalization and they are committed to a very substantial US tariffs are already very low easing of quantitative restrictions, particularly the textiles as the Multi Fibre Agreement is phased out, as agreed in the Uruguay Round. Implementing these commitments will provide significantly improved access for East Asian exports and the "standstill commitment of the Bogor declaration will ease uncertainty about the risk of future protection of taking the early lead on A scenario in which Asian participants of APEC unilateral liberalization while the USA may do no more than implement existing GATT/WTO commitments could have some useful side benefits. could help to dispel an impression, held by many in the USA, that East Asia markets are closed while theirs is open, thereby easing a major source of recent trade friction which threatens any meaningful trans-Pacific economic co In the context of earlier liberalization by concerted governments should help bolster confidence that a process of unilateral decision-making can deliver gains, including to USA to By so, liberalization by other APEC participants may enable the make some unilateral trade liberalization decisions of its own. that still proved difficult, with the Congress continuing to insist on strict, negotiated reciprocity, the USA could make the trade liberalization decisions needed to meet its Bogor commitments as part of a round of WTO In such a round, the contribution of the Asian participants of APEC would be to offer to bind, in the WTO, all of the unilateral reductions in their traditional trade barriers beyond obligations, undertaken since 1995 as part the APEC process. The USA.on its part, would offer to undertake