Keidanren has presented the U.S. Department of Commerce with an opinion paper on investigations under Section 232 of the U.S. Trade Expansion act that are concerned with automobile imports. Furthermore, we are ready and willing to present our views on this matter in public hearings, if invited to do so. We are concerned that the imposition of additional import duties will have a broad-ranging impact and are prepared to appeal to individual U.S. states to voice our concerns.

In the opinion paper we submitted to the Dept. of Commerce, we pointed out that Japanese companies have contributed to employment growth and other favorable trends in the U.S. economy through their investments. If additional duties are imposed, the repercussions will seriously impact not only Japanese firms but also U.S. consumers mainly in the form of climbing prices. They will also directly impact the business activities and lives of car dealers that handle Japanese automobiles. Our paper utilized data based on statistics from the U.S. Dept. of Commerce itself to highlight concerns about the severe impact that additional duties will have on the U.S. economy. Furthermore, it discussed how unilateral trade actions of this kind may undermine the ability to predict future trends and lead to a decline in corporate incentives to invest. Section 232 of the Trade Expansion Act was originally intended to deal with matters of national security. It is difficult for us to understand how Japanese automobiles might impact the national security interests of the U.S. Keidanren has also touched on this point in its public comments.

To read – Keidanren’s Comments for the Section 232 Investigation of Imports of Automobiles and Automotive Parts – click here

Source: Keidanren