TPP Negotiations Should Preserve Japanese Investment in U.S. Autos, Say Lawmakers
The Obama Administration should ensure Trans-Pacific Partnership (TPP) talks foster a business climate where foreign automakers, primarily the Japanese, continue to invest in U.S. auto manufacturing, said a bipartisan group of 78 House lawmakers in an Oct. 15 letter to the president. That foreign investment has honed the skills of the U.S. workforce and produced thousands of U.S. manufacturing jobs, said the lawmakers.
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“Over the past 50 plus years, these automakers have become a key component of the U.S. auto manufacturing sector -- investing a total of $47.1 billion in 29 plants and other major facilities,” said the lawmakers. “This commitment by some of the world’s leading car makers has resulted in the creation of over 76,000 U.S. jobs. When our local dealerships are factored in, that number quickly jumps to a staggering 419,000 Americans who benefit from this type of direct investment.”
The U.S. Trade Representative is targeting the end of 2013 for conclusion of TPP talks. Some U.S. lawmakers have long sought greater access to the restricted Japanese auto market. House Ways and Means Committee Ranking Member Sander Levin, D-Mich., has urged the USTR to force Japanese market liberalization through the TPP, claiming the closed Japanese market gives Japanese companies a competitive advantage (see 13072414).