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ASSOCIATION OF INTERNATIONAL AUTOMOBILE MANUFACTURERS ISSUES STATEMENT

ASSOCIATION OF INTERNATIONAL AUTOMOBILE MANUFACTURERS ISSUES STATEMENT
 ARLINGTON, Va., May 7 /PRNewswire/ -- The following statement was issued today by George Nield, president of the Association of International Automobile Manufacturers, Inc.:
 Trade legislation introduced today by House Ways and Means Chairman Daniel Rostenkowski is a step backward to protectionist policies that have historically proven counterproductive. The legislation, H.R. 5100, appears to contain provisions that would unfairly punish American workers simply because they work at a Japanese-owned auto-plants.
 We are shocked and outraged at this blatant attempt to impose quotas that restrict the sale of cars built in the United States by American workers.
 Quotas restrict competition, raise prices and limit consumer choice. This outright resort to protectionism is little more than an attempt to compel American consumers to pay higher prices for cars -- in many cases, even ones that can't attract buyers in fair competition.
 This bill rejects the longstanding principle that competition fostered by open trade and open investment is the cornerstone of America's economic growth.
 In effect, this measure says the jobs of tens of thousands auto workers making cars in factories in states such as Tennessee, Kentucky, and Ohio are less important than those in other states.
 We urge Congress to reject this shortsighted attempt to dictate to Americans which cars they should build, who they should work for and what cars they should buy.
 -0- 5/7/92
 /CONTACT: Annie Howell of Powell Tate, 202-434-8519, for Association of International Automobile Manufacturers/ CO: Association of International Automobile Manufacturers, Inc. ST: Virginia IN: AUT SU:


PS-SM -- NY135 -- 7916 05/07/92 20:17 EDT
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Date:May 7, 1992
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