[Congressional Record Volume 142, Number 49 (Wednesday, April 17, 1996)]
[House]
[Page H3494]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    UNITED STATES-JAPAN AUTO FIGURES

  (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, with the President in Japan, it is time to 
take stock of our abysmal trade accounts with that nation.
  The administration is doing its best to put a public relations spin 
to last year's massive $60 billion trade deficit with Japan. Look at 
the facts: During the first 3 years of the Clinton administration, the 
United States has suffered over $185 billion in more trade deficits 
with Japan, a 39-percent increase over the abysmal trade deficit 
records under the Bush administration. U.S. auto manufacturers still 
have less than 1 measly percent of Japan's auto market, while Japan 
commands over one-third, 33 percent of this market. The value of the 
dollar against the yen has gone down by 40 percent since 1990, making 
our automotive goods 40 percent cheaper in their market. Yet the United 
States gained only one-third of 1 percent of Japan's auto market since 
1995.
  Mr. Speaker, let us save the high fives. We have scaled an ant hill. 
Now all that is left is the mountain.

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