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Automakers Endorse U.S. Government's Renewed Call for Economic Reform in Japan

5 August 1998

Automakers Endorse U.S. Government's Renewed Call for Economic Reform in Japan

    WASHINGTON, Aug. 5 -- The following is a statement by Andrew
H. Card, Jr., President & CEO of the American Automobile Manufacturers
Association (AAMA), in reaction to comments by the Clinton Administration
urging economic reform in Japan:

    "We applaud the clear direction of President Clinton, Secretary Rubin and
Deputy Secretary Summers in renewing the Administration's call for Japan's new
government to urgently address that nation's economic problems.
    "The President is said to have personally delivered the message to Prime
Minister Obuchi that it is critical that his new government 'take early steps
to ensure substantial and sustained fiscal stimulus, as well as decisive
actions to strengthen its financial sector.'
    "America's Car Companies want to underscore the need for Japan to further
deregulate and open its markets, consistent with the President's appeal.
After months of indecision, it appears that the Japanese government is finally
prepared to propose a permanent and substantial tax cut to stimulate the
economy.  Japan's actions to fix its problems are crucial to the future of the
world economy.  With time a critical factor, the entire world is watching to
see how forcefully and effectively Japan chooses to respond."

    AAMA is the trade association whose members are Chrysler Corporation
, Ford Motor Company and General Motors Corporation
.  Visit the AAMA's site on the World Wide Web at
http://www.aama.com.