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AMERICAN AUTOMOBILE MANUFACTURERS ASSOCIATION ISSUES STATEMENT ON REPORTS OF PUNITIVE ACTION

 WASHINGTON, Jan. 26 /PRNewswire/ -- Thomas H. Hanna, president and chief executive officer of the American Automobile Manufacturers Association, issued the following statement regarding news reports that the U.S. automakers plan to seek punitive duties on all imported cars:
 Today's reports concerning potential punitive action by U.S. auto companies on car imports into the U.S. involve "dumping," an unlawful trade practice under U.S. and international laws. Our government and international trade rules recognize that world trade only works fairly when all parties play by the same rules. Foreign producers who engage in dumping, unfairly seek a market advantage in the U.S. through predatory pricing at the expense of American workers and American products.
 We have always acknowledged that the U.S. companies monitor the pricing of auto and truck imports into the U.S. on an ongoing basis. Charges of substantial dumping in this industry have already been confirmed by the government in the past. The monitoring and investigation continues, but we have not made a decision whether to proceed with any legal action. If there were going to be such an action, it would not be announced until it was filed with the appropriate agencies.
 -0- 1/26/93
 /CONTACT: Gene McKinney or Ed Lewis of the American Automobile Manufacturers Association, 202-775-2716/


CO: American Automobile Manufacturers Association ST: District of Columbia IN: AUT SU:

DC -- DC010 -- 9055 01/26/93 11:59 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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