Statement by Assistant to the President for Press Relations Fitzwater on the Senate's Action on the Textile Bill

The President regrets the Senate's vote to pass the textile bill. The President vetoed the 1986 textile bill and will veto the 1988 version if it reaches his desk. The bill the Senate passed today is protectionism at its worst. It would bring retaliation against U.S. exports, harm U.S. international competitiveness, and cost American jobs. That is a disastrous prescription for America's economic future.