James Baker Iii

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Treasury Secretary James Baker III, left, shares a light moment with House Ways and Means Committee Chairman Dan Rostenkowski of Illinois on Capitol Hill in Washington, Tuesday, Feb. 10, 1987. Baker told the committee that the U.S. trade deficit appears to be leveling off under pressure from a declining dollar and indicated that further falls in the dollar against the Japanese yen may not be desirable. (AP Photo/John Duricka)