[Congressional Record Volume 141, Number 92 (Wednesday, June 7, 1995)]
[House]
[Pages H5630-H5631]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                  THE UNITED STATES-JAPAN AUTO DISPUTE

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. KAPTUR. Mr. Speaker, what is wrong with this picture? Regardless 
of the yen-dollar exchange rate, United States market share of the 
Japanese [[Page H5631]] auto and auto part market has remained flat for 
nearly two decades. As a matter of fact, the import share for all 
foreign manufacturers in Japan has remained stuck at 4.6 percent for 
autos and 2.6 percent for auto parts.
  The gigantic United States automotive deficit with Japan defies all 
economic rationale. In 1985, when the yen was 240 to the dollar, the 
United States had an automotive deficit with Japan of $23.9 billion. 
Now, with the yen hovering around 80 to the dollar--a 300-percent 
decrease in the dollar's value against the yen--our automotive trade 
deficit is on track to break last year's record of $37 billion.
  As this chart shows, the facts are on our side. The United States has 
a trade surplus in the automotive sector with the rest of the world. 
Isn't it time for Japan to play fair?

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