LOL Trade issues with Japan dominated relationships, especially the threat that American automobile and high tech industries would be overwhelmed. Japan's econ

LOL Trade issues with Japan dominated relationships, especially the threat that American automobile and high tech industries would be overwhelmed. Japan's economic miracle emerged from a systematic program of subsidized investment in strategic industries—steel, machinery, electronics, chemicals, autos, shipbuilding, and aircraft.[118][119] During Reagan's first term Japanese government and private investors held a third of the debt sold by the US Treasury, providing Americans with hard currency used to buy Japanese goods.[120] In March 1985 the Senate voted 92–0 in favor of a Republican resolution that condemned Japan's trade practices as "unfair" and called on President Reagan curb Japanese imports.[121]