Japan was manipulating its currency, said Alan Mullaly in an interview with Bloomberg.
Since November, the yen has fallen 18 per cent against the dollar, effectively making their exports more competitive.
Mulally also said Japan’s markets were “the most closed in the world.”
According to Bloomberg, Japanese automakers account for more than 90 per cent of sales in their home market.
All of this comes as U.S. car manufacturers fight to block Japan’s entry into the Trans-Pacific Partnership free trade agreement.
Watch Bloomberg’s interview with Mulally here:
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