Senator Says Japan Likely To Keep Voluntary Auto Quota
INDIANAPOLIS (AP) _ Japan is expected to announce Thursday a one-year extension of its voluntary restraints on automobile exports to the United States, Sen. Dan Quayle, R-Ind., said Wednesday.
″I’m very optimistic that tomorrow they’ll be announcing the voluntary restraints will continue,″ he said at a news conference.
Quayle said an official of the Japanese Embassy in Washington informed him Wednesday morning that Japanese officials plan to announce the level of auto exports to the United States they will honor over the next year in Tokyo on Thursday.
Japan currently restricts its auto exports to the United States to 2.3 million units per year. Quayle said he expects that level to be maintained.
Quayle said the limit needs to be kept in place until U.S. exports to Japan increase, disputes concerning alleged unfair Japanese trade practices are resolved and the U.S. trade deficit with Japan is reduced.
The U.S. trade deficit with Japan stood at a record $49.7 billion in 1985, and Japanese auto imports accounted for $4.1 billion of that total in December alone, Quayle said.
Quayle was one of 13 senators who wrote Japanese Prime Minister Yasuhiro Nakasone in December, asking him to retain the voluntary auto restraints.