TELECOMMUNICATIONS BILL CLEARS U.S. HOUSE PANEL
The House Energy and Commerce
Committee approved major trade legislation that will give
President Reagan authority to retaliate if negotiations to open
foreign markets to U.S. telecommunications products fail.
    The provision was part of a major trade bill the committee
approved on a vote of 26 to 15. It will be wrapped into a trade
bill being written in several House committees and due to be
considered in the full House in late April.
    The bill also requires foreign investors to file detailed
reports to the Commerce Department on their U.S. holdings in
real estate, securities or U.S. companies.
    In response to congressional concern over the Fujitsu
proposal to take control of Fairchild Semiconductor Corp., the
bill would give Reagan the power to bar foreign acquisitions of
U.S. firms if the sale threatened U.S. national security.
    The legislation would bar for one year imports of advanced
audio digital tape machines unless the recording capability is
disabled. The action was taken after the U.S. recording
industry said the new machines would lead to rampant recording
piracy and legislation was needed to protect their rights.
    The bill authorizes government spending of 100 mln dlrs a
year for five years to help pay for research by a consortia of
semiconductor manufacturers.
   
 Reuter
