In Advance of President's Asia Trip, AAPC Highlights Auto Industry's Continuing Status As No. 1 U.S. Export Sector
WASHINGTON, D.C. – In advance of President Obama's trip to Asia, the American Automotive Policy Council today presented 2013 automotive export data which shows that for the fourth year in a row, the automotive sector was America's leading export sector.
According to the U.S. Department of Commerce, the U.S. automotive industry was the largest U.S. export sector last year, exporting $138.6 billion worth of vehicles and parts, up 4.4 percent from the $132.7 billion in 2012 and out-exporting the petroleum and aerospace industries. The increase in exports mirrored broader positive economic news as a record $2.3 trillion worth of products and services were exported from the United States in 2013.
“As President Obama prepares to meet with Asian trading partners, we are highlighting the contributions of American automakers to the U.S. economy,” said Matt Blunt, President of the American Automotive Policy Council. “In 2013, the U.S. automotive industry continued to create jobs and economic opportunity across the nation. That is why it is critical that President Obama fight for market access and currency disciplines in the Trans-Pacific Partnership."
Governor Blunt noted the importance of establishing equitable trade pacts if American exports are to continue their growth.
"While auto exports were healthy again last year, some of America’s trading partners worked to keep their markets closed to our products," said Blunt. "Despite Japan having a zero tariff on autos, the auto sector accounted for $49.8 billion of the $67.4 billion U.S. trade deficit with Japan. Japan’s continued refusal to allow American automakers to fully participate in its domestic auto market is responsible for the startling imbalance. In fact, as the result of Japan's closed auto market, Japan sells as many vehicles in the U.S. in one day as we do in Japan in one year. American automakers are not the only ones who face these barriers. Cars and trucks from other Asian nations and Europe face the same limits to accessing Japan’s auto market.”
As negotiators from the United States, Japan and other nations work to finalize the Trans-Pacific Partnership, Governor Blunt said it is essential that non-tariff barriers to U.S. auto exports are eliminated and strong and enforceable currency manipulation disciplines are included in the agreement.
"If TPP is going to live up to its goal as a high-standard, 21st century agreement, then nations like Japan need to open up and play by the rules," Blunt said.
The American Automotive Policy Council, Inc. (AAPC) is a Washington, D.C. association that represents the common public policy interests of its member companies Chrysler Group LLC, Ford Motor Company and General Motors Company.