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Mon, May 21, 2001 - Page 19 News List

Bush's nimble economic team settling down to business

Even some of the US' administration's harshest critics are impressed by the discipline and political touch that the president and his team have showing in putting their agenda into practice

By Richard W. Stevenson  /  NY TIMES NEWS SERVICE , WASHINGTON

Bob Zoellick, a veteran of the White House and the State and Treasury departments in the two previous Republican administrations, spent much of November and December in Florida, helping Bush capture the final electoral votes he needed. He is now gearing up for a campaign that could be almost as bloody in political terms: winning authority from Congress for Bush to negotiate trade agreements.

Expanding trade is a core principle in Bush's economic plan. But there is a bitter divide in Congress over the issue, reflecting the broader debate in the country and around the world over whether governments should manage the globalization of markets to ease the impact of rapid change on workers, industries and the environment.

His job will be all the more difficult if the economy continues to weaken, driving up the unemployment rate.

Zoellick says that increasing trade by cutting tariffs is the equivalent of a tax cut in terms of helping a slowing economy, and that businesses are increasingly looking at markets abroad as the domestic market cools off. But he knows that he is in for a fight.

``This is a wonderful opportunity for us to shape the future of the international trading systems, and unfortunately, we're falling behind,'' he said. ``We need to regain momentum globally and regionally and bilaterally. A key element is trying to rebuild support with the Congress and the public.''

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