Tokyo — Japan is ready to voluntarily hold down car exports to the United States in fiscal 1983 for the third year in a row, government sources said Monday. But it hopes to maintain shipments at 1.68 million units, the same level as in the previous two years.
Sources at the Ministry of International Trade and Industry (MITI) said the two countries are set to discuss next month the level of Japan's car exports to the US.
Tokyo agreed to a three-year export-restraint program in May 1981, setting the first year's voluntary limit on car exports to the US at 1.68 million units. MITI sources said the Japanese government is holding out for the 1.68 million level despite pressure from the US auto industry to reduce Japan's auto-export level to 1.5 million units.