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GM SPOKESPERSON STATEMENT ON JAPANESE VOLUNTARY EXPORT RESTRAINTS (VERs)

GM SPOKESPERSON STATEMENT ON JAPANESE VOLUNTARY EXPORT RESTRAINTS (VERs)
 DETROIT, March 19 /PRNewswire/ -- The following is a statement by a General Motors Corporation (NYSE: GM) spokesperson on Japanese Voluntary Export Restraints (VERs):
 Japan's voluntary export restraints (VERs) have not constrained the number of vehicle exports to the U.S. from Japan for some time. They give the misleading impression that something meaningful is being done to reduce the U.S. trade deficit with Japan. Even when they do constrain exports, quotas, such as the VERs, stimulate the building of more capacity in an industry already saddled with substantial worldwide overcapacity. General Motors believes the long-term solution to the chronic U.S.-Japan imbalance requires opening of Japanese markets and assurance that exports to this market are not being dumped or otherwise unfairly traded.
 -0- 3/19/92
 /CONTACT: Ronald L. Theis of General Motors, 313-556-3810/
 (GM) CO: General Motors Corporation ST: Michigan IN: AUT SU:


JG -- DE013 -- 9625 03/19/92 11:19 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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