TREASURY'S BAKER SEES CUT IN TRADE DEFICIT

  Treasury Secretary James Baker said
  the administration is confident the effect of exchange rate
  changes will bring about a cut in the trade deficit this year.
      In testimony before the Senate Committee on Governmental
  Affairs, Baker conceded that the effect thus far has "not yet
  proved as quick or as strong as had been expected from past
  experience."
      He told the committee, however, that the "initial signs are
  encouraging."
  

