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."
 Reuter
