What Happened on June 4th

Agreement on Microprocessor Trade Between US and Japan

US and Japanese officials announced an agreement on a pact governing the countries' microprocessor trade. The pact attempted to deal with intense competition between American and Japanese chipmakers by calling for sales of foreign semiconductors to reach 20 percent in the Japanese market within a year. US President Ronald Reagan had imposed sanctions on Japan in 1986 after finding that Japan had failed to increase the US share of the Japanese semiconductor market.