Joe Hinrichs, the chief of Ford’s North and South America business, kept its momentum for the day, further attacking the proposed Trans-Pacific trade agreement and saying that Ford would oppose it if doesn’t open up the Japanese car market.
Speaking at the Chicago Economic Club on the sidelines of its attack against the Japanese automakers and government manipulated currencies, Hinrichs said Ford supports free trade and open markets but wants further trade agreements to prevent one nation’s manufacturers unfair advantages.
“American jobs are at risk,” Hinrichs said. “It’s a real issue. Currency manipulation is the major trade barrier in the 21st Century.”
Ford’s executive wants the proposed Trans-Pacific Partnership trade treaty to have specific, detailed language on currency policies and open markets. Such specific language already exists, as a trade group that represents Ford, Chrysler and General Motors – the Automotive Policy Council, drafted it.
“It was the right speech at the right time,” IHS Automotive senior analyst Stephanie Brinley said. “Trade agreements make everything go more smoothly, but they must be fair.”
Hinrichs added that the weak yen “puts $2,000 per vehicle in Japanese automakers’ pockets,” and although Ford has been supportive in the past of each free trade agreement the US had, that would change if the Trans-Pacific Partnership doesn’t levels up the competition.