Send a Tweet
Most Popular Choices
Share on Facebook 5 Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds    H4'ed 1/29/16

Ford Leaves Japan and Indonesia, Blames the TPP

By       (Page 1 of 2 pages)     (# of views)   2 comments
Author 4387
Follow Me on Twitter     Message Dave Johnson
Become a Fan
  (12 fans)

Reprinted from Campaign For America's Future


(Image by iLearn Documentary)   Details   DMCA
- Advertisement -
>

Ford Motor Company announced this week that it will close all operations in Japan and Indonesia this year, because it sees "no reasonable path to profitability." Last year GM pulled out of Indonesia. What does it say that they are doing this with the Trans-Pacific Partnership (TPP) on the horizon?

Ford is giving up on trying to crack the Japanese and Indonesian automobile markets, saying that the upcoming TPP does not address such problems as currency manipulation and other non-tariff barriers. the BBC reported, in "Ford pulls out of Japan and Indonesia":

"In 2015, Ford sales accounted for just 0.1% of the Japanese market and only 0.6% in Indonesia.

- Advertisement -

"In a statement, Ford spokesman Neal McCarthy said: 'Japan is the most closed, developed auto economy in the world, with all imported brands accounting for less than 6% of Japan's annual new car market.'

"'The 12-nation Trans Pacific Partnership trade agreement in its current form would not improve Ford's ability to compete there,' he added."

Sen. Sherrod Brown (D-Ohio) also blamed TPP. The Hill reports in, "Dems blame trade deal as Ford exits Japan":

- Advertisement -

"The TPP's lack of any meaningful currency protections means that it will be more of the same... We need our government to fight for companies in the global marketplace in the same manner as some other countries do. This business decision by Ford is further evidence of the impact of unfair currency manipulation....

"'The ink isn't even dry and we are already seeing proof that this massive agreement will sell out American workers and roll back the remarkable recovery of our auto industry,' Brown said."

Rep. Debbie Dingell (D-Mich.) joined Brown:

"Dingell said that 'this business decision by Ford is further evidence of the impact of unfair currency manipulation.'

"'Until our trade agreements meaningfully address currency manipulation, the mother of all trade barriers, American companies will continue to be threatened and disadvantaged by foreign governments who attempt to tilt the global playing field in favor of their industries and against the United States,' Dingell said."

In fact Steve Biegun, Ford's vice president of international government affairs, said TPP would "lock in" our auto trade deficit:

- Advertisement -

"'By our assessment, this TPP would lock in place a $50 billion annual auto trade deficit with Japan,' he said at a hearing held by House Ways and Means Committee Democrats on Jan. 7.

"'We do not expect that any global automaker will meaningfully increase exports to Japan as a result of this TPP agreement,' he said."

TPP Opens U.S. Market While Not Helping U.S. Carmakers In Other TPP Countries

Next Page  1  |  2

 

- Advertisement -

Must Read 2   News 1   Interesting 1  
Rate It | View Ratings

Dave Johnson Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Dave has more than 20 years of technology industry experience. His earlier career included technical positions, including video game design at Atari and Imagic. He was a pioneer in design and development of productivity and educational (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Three Charts To Email To Your Right-Wing Brother-In-Law

Upcoming Trans-Pacific Partnership Looks Like Corporate Takeover

Actually, "the Rich" Don't "Create Jobs," We Do

Now We Know Why Huge TPP Trade Deal Is Kept Secret From The Public

Does Clinton Really Oppose TPP? There Is A Test For That

Will TPP Kill The Post Office?