Citing lack of progress in multilateral talks to liberalize trade infinancial services, the U.S. administration has thrown its support behind a bill that would allow the United States to retaliate against countries that don't allow U.S. financial institutions to operate freely in their markets.

Speaking in Washington last week. Treasury Secretary Lloyd Bentsen said the United States will make "a major push over the next few weeks to encourage the key emerging markets of Asia and Latin America to offer better commitments."

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