Lawmakers Press White House On Auto Imbalance In S.Korea,Japan

Date : 11/06/2009 @ 5:39PM
Source : Dow Jones News
Stock : Citigroup (C)
Quote : 4.21  -0.07 (-1.64%) @ 7:45PM
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Lawmakers Press White House On Auto Imbalance In S.Korea,Japan

  By Josh Mitchell 
  Of DOW JONES NEWSWIRES 
 

WASHINGTON -(Dow Jones)- Auto-industry allies on Capitol Hill urged the Obama administration on Friday to "take all steps necessary" to further open the South Korean and Japanese markets to U.S. automobiles.

The group, led by Michigan's Democratic senators, Debbie Stabenow and Carl Levin, repeated accusations that the Asian countries have imposed non-tariff barriers to give their domestic auto makers a competitive advantage. They said the auto trade imbalance has worsened as those countries have implemented consumer-incentive programs such as "cash for clunkers" that the lawmakers described as being designed to push buyers toward domestic-made cars.

In a letter to U.S. Trade Representative Ron Kirk, the lawmakers urged the administration to act, though they didn't specify what steps should be taken.

"Under any circumstances, this would be extremely troublesome," the letter stated of the trade imbalance. "But especially now, given the current economic crisis, the Obama Administration must do everything it can to ensure U.S. auto exports can compete on a level playing field."

In addition to Michigan's senators, the letter was signed by a bipartisan contingent of congressmen from Michigan and Ohio, as well as Rep. Charles B. Rangel (D., N.Y.), the House Ways and Means Committee chairman.

A spokeswoman for Kirk couldn't immediately be reached for comment.

-By Josh Mitchell, Dow Jones Newswires; 202-862-6637; joshua.mitchell@dowjones.com

 
 

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