The Clinton Administration is considering tax increases and spending cuts to offset revenue lost in the GATT deal.

President Clinton's decision effectively insured that a GATT deal would be done, but would not include the contentious issue involving movies, television and musical recordings.

"If the GATT deal goes through as proposed, European culture is finished," he told the Parliament.

Yet, since any GATT deal will be a compromise, charges of surrender may be unavoidable.

As Europe's largest food producer, France will inevitably lose export revenues from a GATT deal.

And his trade actions against Canada and other partners will make it more difficult to complete the GATT deal on time.

That is why no new GATT deal is likely, and why Nafta is in trouble.

This may not prevent a GATT deal, though it does make one less likely.

That is why a GATT deal has proved elusive, and looks as if it will be again in Tokyo.

Ross Perot, the independent Presidential candidate in 1992, has opposed the GATT deal.