TRADE

U.S.-Japan Microchip Talks Stall: Trade negotiators appeared to make little headway in the discussions to resolve the dispute, despite a looming deadline after U.S. officials said a new Japanese proposal broke no new ground. The negotiators have been told by Prime Minister Ryutaro Hashimoto and President Clinton to resolve the dispute over an expiring semiconductor agreement and a separate row over insurance deregulation in Japan by today. Japanese industry sources said the computer chip offer builds on an earlier proposal to create a new global forum in which the U.S., Japan and the European Union could address semiconductor issues. The proposal also included a separate bilateral statement that would address some U.S. concerns, the sources said. Washington wants a transitional two-way deal to replace the expiring 1991 pact. It also wants the agreement to include data collection on cost and price to keep an eye on potential dumping.