The chief executive of Ford Motor Co complained on Tuesday about Japan’s devaluation of the yen and reiterated his opposition to Tokyo entering into free trade talks with the United States under an Asia-Pacific agreement.
The yen has fallen around 8 percent against the dollar this year, driven down by Tokyo’s fiscal and monetary policies.
“The markets should determine the exchange rate,” Ford CEO Alan Mulally told a small group of reporters in Bangkok, referring to what he said was “the devaluing of the yen”.
Ford has been vocal in opposing Japan’s entry into the talks for the Trans-Pacific Partnership (TTP), a U.S.-led Pacific free trade pact, until Tokyo opens its market to more U.S. cars.