- Jun 3, 2006
Yen rate gives Japanese automakers unfair advantage, Chrysler's LaSorda says
At the Mackinac Policy Conference in Michigan on Thursday, Chrysler president and CEO Tom LaSorda said he plans to call on George W. Bush to confront Japan about an artificially low yen rate that he maintains unfairly allows Japanese automakers up to a $3,000 advantage per vehicle over their American counterparts. LaSorda said that he, Rick Wagoner and Bill Ford plan to raise this topic, along with health care and energy policy, with President Bush in a meeting scheduled for later this month.
LaSorda drew attention to the 1.8 million Japanese vehicles that are still being imported into the United States, and although this number has decreased since years past, parts imported from Japan continue to exacerbate the issue.