The Soviet Union will present a draft treaty today calling for elimination of all U.S.-Soviet medium-range missiles in Europe, an official source in the Soviet arms negotiating team told Reuters. The draft treaty will be handed over to the American team negotiating on medium-range missiles during talks at the U.S. Diplomatic mission in Geneva this afternoon, the source said. The United States presented its draft treaty, which would also scrap the so-called “Euromissiles,” during a previous round of negotiations in early March.

A black policeman was killed and 70 were injured when a bomb was lobbed onto a parade ground in South Africa’s biggest black township of Soweto this morning, the government said. The device was thrown from a passing vehicle as trainee township policemen from all over South Africa were on parade at the Tladi police training centre, the government’s Bureau for Information said. Ten officers were seriously wounded and 60 suffered slight injuries, it said.

U.S. Agriculture Secretary Richard Lyng warned Japan that the failure to remove a longstanding import quota on Japanese beef might spark a protectionist response in the United States. “Given the protectionist mood in the Congress and the country, if I were a leader in Japan I would certainly be very concerned…and the failure to remove it (the beef quota) might be very serious,” Lyng told a group of U.S cattlemen.

U.S. Commerce Secretary Malcolm Baldrige said U.S. Sales of high technology to China are rising despite Peking’s complaints they are being restricted. He told reporters at the airport on arriving here for talks that technology transfers to China had increased every year and would continue to do so. The official Peking Review yesterday accused the United States of delaying approval on high-technology sales to China. Last year, Washington approved only 60 pct of the exports China applied for, the magazine said.

The visit this week by a special Japanese envoy has done little to defuse Japan’s trade frictions with the United States, U.S. and congressional leaders say. White House and congressional leaders took a wait-and-see stance, after a series of meetings with former Japanese Foreign Minister Shintaro Abe, who was here paving the way for the April 29-May 2 visit of Prime Minister Yasuhiro Nakasone. They are withholding judgment until Nakasone’s visit, with one senator saying Japan had promised to stimulate its economy and open its markets to foreign goods in the past, but it was time now for action.

U.S. Trade Representative Clayton Yeutter said he doubted Japan could avoid the April 17 imposition of U.S. tariffs on its semiconductor products. The three high-level Japanese government representatives who would be coming here in the next few days to discuss the issue would probably be unable to show evidence of continued compliance with the semiconductor trade agreement, Yeutter told reporters. “It would be impossible to provide evidence of compliance with the agreement” based on sales of only a few days time, he said.

U.S. Agriculture Secretary Richard Lyng said Japanese government officials do not seem to understand that protectionist sentiment in the U.S. Could lead to an explosive situation and protectionist legislation. Speaking to the National Press Club of Japan, Lyng said protectionist sentiment in the U.S. Has increased alarmingly during the last six months. “It is a radically changed situation and is very explosive. We are on the verge of some very harsh mandatory retaliatory laws which would have very serious consequences for other countries, especially Japan,” Lyng told reporters.

New York Federal Reserve Bank President Gerald Corrigan opposed a further fall in the value of the dollar but refused to say whether U.S. Interest rates would be raised to protect the currency. “A further decline in the dollar or appreciation of the yen at this juncture I would regard as counterproductive,” he told a news conference. His comments echoed those made last week by U.S. Treasury Secretary James Baker, who also warned against a further dollar fall.

Belgian Agriculture Minister Paul de Keersmaeker said he would review EC Commission proposals for a tax on imported and EC produced vegetable oils and fats in the light of objections made by certain EC member states. De Keersmaeker, current chairman of the EC farm ministers' council, was speaking after a three-day meeting of ministers at which the tax proposal was one of the key themes. He said he would review the position as part of plans to present compromise proposals for the 1987/88 farm price package to the next meeting, starting in Brussels on May 18.

The Swiss National Bank is prepared to increase its intervention on currency markets if the action can be properly coordinated with other central banks, Markus Lusser, a member of the Bank’s three man directorate, said. He told a meeting of Swiss industrialists that intervention to support the dollar could not bring about lasting changes in exchange rates unless accompanied by fundamental changes in economic policy. However, intervention could send signals that would contribute to a short term smoothing of currency movements.