Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Ford Motor Company : U.S., Japan agree on approach to Trans-Pacific Partnership talks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/23/2013 | 01:01am CEST

The United States and Japan on Friday agreed on language aimed at giving Japanese Prime Minister Shinzo Abe political cover to bring the world's third-largest economy into negotiations on a U.S.-led free trade agreement in the Asia Pacific region.

In a carefully worded statement following Abe's meeting with President Barack Obama, the two countries reaffirmed that "all goods would subject to negotiation" if Japan joins the talks with the United States and 10 other countries.

At the same time, the statement leaves open a possible outcome to the Trans-Pacific Partnership, or TPP, talks where the Japan could still protect its rice sector and the United States could keep duties on Japanese autos.

"Recognizing that both countries have bilateral trade sensitivities, such as certain agricultural products for Japan and certain manufactured products for the United States, the two governments confirm that, as the final outcome will be determined during the negotiations, it is not required to make a prior commitment to unilaterally eliminate all tariffs upon joining the TPP negotiations," the statement said.

Jeffrey Schott, a senior fellow at the Peterson Institute for International Economics, called the joint statement "a big step forward" in the process of determining whether Japan will join TPP talks, which members hope to finish this year.

"The United States and Japan agreed that the deal has to be comprehensive, but you don't commit to the final terms before you even get into the negotiations," Schott said.

But Representative Sander Levin, the top Democrat on the powerful House of Representatives Ways and Means Committee, called the statement "worrisome" and warned any agreement that includes Japan would not pass Congress unless it truly pries open that country's farm and automotive markets.

Abe, who is on his first trip to Washington since taking office in December, has vowed to revive Japan's economy with an expansive monetary policy, big spending and structural reform.

Joining the TPP talks could help with the third task by exposing Japanese companies and farmers to more competition.

But Japanese rice and other farmers who have long enjoyed high tariff protections are opposed to Tokyo entering the talks, and Abe curried their favor during his campaign last year by promising not to unilaterally agree to eliminate tariffs on certain sensitive products.

The current TPP members - United States, Canada, Mexico, Australia, New Zealand, Chile, Peru, Singapore, Malaysia, Vietnam and Brunei - have pledged to negotiate an agreement that eliminates tariffs in as many areas as possible.

To accomplish that goal they have agreed not to exclude any sectors or products from the negotiations.

That stance also worries Ford Motor Co and the United Auto Workers, which have pressured the Obama administration not to allow Japan into the talks until Tokyo makes reforms to open its market to more auto imports.

Although Japan already has no auto tariffs, Ford and the UAW argue that the country relies on regulatory and other non-tariff barriers to keep out auto imports.

The U.S.-Japan joint statement said the two governments would continue their discussions on the possibility of Japan joining the TPP talks.

"While progress has been made in these consultations, more work remains to be done," in areas such as autos and insurance, the joint statement said.

A final decision to allow Japan into the negotiations would have to be made by all the current TPP members.

Additionally, the White House would have to give Congress 90 days notice before starting talks with Japan.

(Additional reporting by Mark Felsenthal; Editing by David Brunnstrom and Eric Walsh)

By Doug Palmer

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FORD MOTOR COMPANY
03:08a FORD MOTOR : settles sexual, racial harassment claims at Chicago plants for $10 ..
08/17DJMARK FIELDS : New Ford CEO Hints at Changes in Auto Maker's Self-Driving Plans
08/17 FORD MOTOR : Taking the City of Tomorrow from Fantasy to Reality -- Together
08/17 FORD MOTOR : Industrial waste pollutes America's drinking water
08/17 FORD MOTOR : to pay up to $10.1M to settle harassment allegations
08/17 FORD MOTOR COMPANY : to Pay Up to $10.125 Million to Settle EEOC Harassment Inve..
08/17 FORD MOTOR : New Ford CEO says company will balance present with future
08/16 Toyota plant belongs in eastern North Carolina
08/16 Carmakers win brief reprieve from lawsuits over faulty Takata air bags
08/16 FORD MOTOR : Lawrence Tech to Honor Ford Mobility President With Fourth Global C..
More news
News from SeekingAlpha
08/17 FORD MOTOR : Sinking To Single Digits?
08/16 Foregone Conclusions Become Well-Known Facts
08/15 Is Ford Undervalued?
08/15 Uber And Lyft Might Be Toast
08/15 Buying Ford Below Its 52-Week Low
Financials ($)
Sales 2017 142 219 M
EBIT 2017 5 269 M
Net income 2017 6 732 M
Finance 2017 11 860 M
Yield 2017 6,56%
P/E ratio 2017 6,47
P/E ratio 2018 6,92
EV / Sales 2017 0,22x
EV / Sales 2018 0,22x
Capitalization 42 895 M
Chart FORD MOTOR COMPANY
Duration : Period :
Ford Motor Company Technical Analysis Chart | F | US3453708600 | 4-Traders
Technical analysis trends FORD MOTOR COMPANY
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 12,2 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Robert L. Shanks Chief Financial Officer & Executive Vice President
Jeff Lemmer Vice President & COO-Information Technology
Ken Washington Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
FORD MOTOR COMPANY-12.28%42 895
TOYOTA MOTOR CORP-10.21%184 021
VOLKSWAGEN-2.66%77 450
DAIMLER-14.42%76 271
BAYERISCHE MOTOREN WERKE-9.70%61 384
GENERAL MOTORS CORPORATION2.01%52 095