U.S. STOCK MARKET OVERREACTS TO TARIFFS - YEUTTER

  U.S. Trade Representative Clayton
  Yeutter said the stock market overreacted to a U.S. decision
  last week to proceed with tariffs on some Japanese computer
  products.
      Speaking to reporters prior to testifying at a House
  Agriculture Committee hearing, Yeutter said it is "difficult to
  comprehend" that a trade decision affecting only 300 mln dlrs
  in goods caused the stock market collapse yesterday.
      "I have a hunch a lot of other things were involved in that
  (stock market fall), including simple profit-taking," Yeutter
  said.
      Yeutter said Japan would be sending a senior official from
  its trade ministry to Washington next week for talks on the
  computer chip dispute.
      "We will be glad to have him here, but that's not going to
  affect a decision that's already been made," Yeutter said.
      The decision announced last week would apply higher tariffs
  on a range of Japanese products in retaliation for the alleged
  failure of Tokyo to honor an agreement with the U.S. on
  semiconductor trade.
  

