In this box is a part. It is a universal joint. I bought it on Main Street America yesterday, Main Street, Royal Oak, MI. It costs $11.47. In Japan, this part would cost over $100. What does it mean, this differential? It means fewer jobs here in the United States because our products are locked out in Japan. It means fewer jobs and smaller profits for our industry which could be invested. It also means the Japanese consumers are overcharged, and it also means that Japanese companies use profits from their sheltered markets to gain market share here to invest in the rest of Asia and elsewhere with an unfair advantage. It is long overdue that Japan open up their automotive sector to parts and to cars. Talk has not worked. Action is necessary. We support the administration's efforts.
Mike Levin: “In this box is a part. It is a universal joint. I bought it on Main Street America yesterday, Main Street, Royal Oak…”
On the recordMay 9, 1995
Source
govinfo.govEditor's note · Context
Addressing trade imbalances and market access issues with Japan during a floor speech.
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