Sanctions Against HaitiMembers of Congress have proposed a series of trade sanctions against Haiti unless it takes steps toward establishing what the U.S. lawmakers regard as a more democratically elected government.
The group introduced legislation to revoke Haiti's 7,500-ton sugar quota, which enables the Caribbean nation to sell sugar at a U.S. price-support level more than three times the prevailing world price, suspends other trade preferences and directs the United States to oppose loans to Haiti by international development banks.
The bill also would formally continue the suspension of nearly $59 million in U.S. aid for Haiti, would impose an embargo on any arms shipments from the United States and would express concern about the growing use of Haiti as a transshipment point for drugs from South America.
Weaker Dollar Hit
Jaguar's 1987 Profit
LONDON - Jaguar PLC, British luxury carmaker, announced 1987 pretax profits Wednesday of 97 million ($179 million), down from 120.8 million in 1986.
Despite increased worldwide sales volumes and revenue, the downturn took place because of the effects of the weaker dollar on U.S. sales and earnings.
Jaguar's exports to the United States in 1987 totaled 22,219 cars, a decline of 2,245 compared with 1986.
The Coventry-based company has also blamed some of the decline on the effects of the October stock market collapse and production inefficiencies arising from the introduction of the XJ model range, which led to 1987 production being 2,000 cars fewer than expected.
Soviet Leader Tours
Yugoslavia Robot Plant
BELGRADE, Yugoslavia - Mikhail S. Gorbachev this week toured a factory in Yugoslavia that exports industrial robots to the United States and the Soviet Union.
The Soviet leader met with workers who run the plant under Yugoslavia's local-management system.
The Soviet Union is Yugoslavia's largest trading partner. It ships raw materials in exchange for manufactured goods that generally are of higher quality than those made at home.
Mr. Gorbachev is on a five-day visit to Yugoslavia. A new declaration acknowledging Yugoslavia's independence from Soviet control is expected to result from his visit.
Sony Corp. Introduces
World's Smallest CD
Sony Corp., U.S. arm of the Japanese electronics giant, Wednesday introduced what it touts as the world's smallest compact disc player.
The D-88 Pocket Discman is about the size of a wallet and weighs 14 ounces. It plays three-inch discs that can hold up to 20 minutes of music. It also plays standard 5-inch CDs, although the larger disks stick out on the side.
The D-88 will be available in June at a suggested retail price of $359.95, Sony said.
Ghana Reports Rise
In Gold Production
ACCRA, Ghana - Ghana produced 324,000 troy ounces of gold in 1987, up from 287,000 in 1986, the Chamber of Mines announced.
The total comprised 275,000 ounces produced by Ashanti Goldfields Corp. and 48,000 by the state-owned Gold Mining Corp.
The chamber also announced 1987 bauxite production of 229,000 metric tons, up from 226,000 in 1986, and manganese output of 295,000 metric tons, up from 339,000.
Australia Hikes Output
Of Aluminum by 17 percent
SYDNEY, Australia - Australian aluminum production totaled 1.02 million metric tons in 1987, up 17 percent from 875,000 a year earlier due to strong demand and higher prices, the Australian Aluminum Development Council said.
Aluminum exports totaled 795,000 metric tons in 1987, up 23 percent from 644,000 in 1986, while the value of the exports rose 32 percent to A$3.33 billion, the council said. (As of March 15, A$1 equaled 73 U.S. cents.)