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Article: European Auto Industry Wants Japan to Go Slow
- Article from:
- The Washington Post
- Article date:
- May 4, 1989
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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The European auto industry, fearing it will be ruined by Japan's
carmakers after a single European market is created, is asking the
Japanese to limit exports voluntarily at least through 1995.
But Japan won't be easily persuaded. Unlike the U.S. auto
industry, which obtained voluntary export quotas from Japan in the
early 1980s during Detroit's severe downturn, the European industry
is reporting record profits, running nearly at capacity and enjoying
much wider access to the Japanese market.
The call for voluntary restraint adds another dimension to the
debate in Europe over how to ensure the health of its auto
industry-its single most important sector, employing directly and ...