European Stars and Stripes (Newspaper) - January 14, 1992, Darmstadt, Hesse                                Tuesday january 14, 1992 the stars and stripes b Page 17 Money matters today a tip gasoline prices at the pump in the United states have dropped to their lowest level in nearly a year according to a Survey. The average Price for All grades of gasoline including taxes was $1.19.5 per gallon As of Friday Down 2.31 cents in the past three weeks the nationwide Lundberg Survey found. Prices Are at their lowest level since last february Industry analyst Trilby Lundberg said. Wholesale prices have dropped because of lower demand by recession hit . Drivers and because concerns that the breakup of the soviet Union would reduce Oil production Haven to come True Lundberg said. Conversion rates London up mondays rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $354.50 an ounce Silver at $4.08. Jan. 10 Jan. 13 British pound.1.7962 1.7718 German mark.1.5730 1.5770 French franc.5.3315 5.3700 dutch guilder.1.7526 1.7718 belgian franc.31.35 32.34 italian lira.1,182.85 1,182.85 Swiss franc.1.4010 1.4350 greek drachma.179.50 181.22 turkish lira.5,224.90 5,271.90 saudi arabian riyal.3.7493 3.7498 Spanish peseta.99.15 100.15 portuguese escudo.135.65 136.20 Canadian dollar.1.1522 1.1476 austrian schilling.10.95 11.07 norwegian krone.6.122 6.181 danish krone.6.040 6.095 these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.53 through tuesday based on mondays noontime  is urged to of big cuts in subsidies Washington a the european Community is making a a big mistake if it refuses to accept big cuts in farm subsidies during global Trade talks Commerce Secretary Robert Mosbacher said sunday. A a it a Good for the world and they should relent a Mosbacher said on in no a news maker sunday. A a they re making a big mistake a he said. The european Community agriculture and Trade ministers meeting in Brussels Belgium on Friday rejected deep cuts in farm subsidies proposed to break a deadlock on new trading rules for 108 nations. Arthur Dunkel director general of the general agreement on tariffs and Trade had set monday As the deadline for nations to respond to his lengthy Compromise plan for liberalizing Trade. Dunkel proposed trimming Domestic farm supports by 20 percent and Export subsidies by 36 percent. He also would impose a 24 percent Cut on the actual tonnage of subsidized farm produce. The european Community ministers walked at accepting cuts of that magnitude. Pm s Stempel lauds Power shown by . At Tokyo talks Detroit a Robert Stempel chairman of general motors corp., on sunday praised last weeks Trade talks in Japan that other top Auto executives have criticized. A for the first time Japan saw the Power of a joint . Government Indus try initiative a he said. A it was a change and they knew it. For a Long time Japan has depended on the . Government to keep . Business in line while Japan incorporated  Chrysler corp. Chairman Lee Iacocca and Ford motor co. Chairman Harold a. Poling who with Stempel and other Industry leaders joined president Bush in the Tokyo Trade talks both have said Japan did no to do enough. Japan pledged to expand . Auto imports by 20,000 cars a year buy More .-made Auto parts and make other Trade concessions. But Stempel the last big three Auto executive to return Home from the talks said he was encouraged by what he called a firm message to Japan from Bush and his Cabinet. Stempel said the next move is up to the automakers who have agreed to meet with Japan Stop five automakers probably in the United states in february. The five companies arc Toyota motor corp., Nissan motor co. Ltd., Mazda motor corp., Honda motor co. Ltd. And Mitsubishi motors corp. The talks also raised awareness about the importance of the . Auto Industry to the National Economy he said. A if enough of the american Public say to themselves a hey one of seven jobs in this country is dependent on our Auto Industry where arc these jobs going to be in the future a then All the Effort was  the United states has a $41 billion Trade imbalance with Japan three fourths of it in the automotive Industry. Japan agreed to modestly increase its number of .-made cars and double to $19 billion the amount it spends for .-made Auto parts by 1994. It also agreed to relax vehicle certification standards that add hundreds of dollars in paperwork charges to each vehicle imported from the United states. Stempel said the import concessions offered by Japan wont do enough to change plans to close 21 pm plants and Cut 74,000 jobs in the next three years. A those two Are completely separate issues a he said. A Plant closings and so Forth arc Independent. That a part of our total  the Sites of closures have been disclosed. Pm lost $2.2 billion in the first nine months of 1991 and was expected to lose Money in the fourth Quarter. The big three . Automakers including Ford motor co. And Chrysler corp. Lost a combined $4.9 billion in the first three quarters. Japan a share of the . Market grew to 26.7 percent in 1991, up from 23.5 percent the previous year. St Cpd Buchanan derides Trade Mission labels Bush an Auto parts dealer Washington up president Bush a Trade Mission was a a a fiasco that he never should have taken Republican presidential challenger Pat Buchanan said. The president a should not have gone to Japan As an Auto parts dealer a Buchanan said sunday on no cd a news program meet the press. Rather than travelling to Japan to plead for More Market Access the president should have stayed at Home and sent a Strong message to Tokyo saying the $42 billion Trade deficit will eventually Lead to american protectionism said the political pundit turned presidential candidate. Japanese leaders look out for their own nation and no one else according to Buchanan. A i have no problem with that a he added because . Leaders ought to do the same. Buchanan went on to say that the real message from Japan to the United states is a a we re Content to have you As cop and Farmer in the new world order but we will be the  Bush returned to Washington on Friday after an 11-Day Trade Mission to the Pacific rim with the final and most attention getting Stop in Japan. More than half of the United states total Trade deficit is with Japan and the Lions share of that is with cars and Auto parts. In general Buchanan is running for president on an a America first plat form. A a we have got to make America first again not just militarily but industrially As Well a Buchanan said. Repeatedly he has criticized Bush for worrying More about world affairs and not enough about Domestic issues. A in a world full of nationalists George Bush is a globalist whereas i am a nationalist a Buchanan said in an earlier interview. Regarding free Trade Buchanan says the United states should do whatever it takes to eliminate the Trade deficit with Japan even if it Means closing markets to japanese products to do that. Buchanan contends that he in general opposes protectionist policies but the United states needs to protect its industries. Poor car sales fierce Competition predicted for big 3 this decade Ann Arbor Mich. A . Automakers face continued sluggish sales increased Competition and More red tape in the coming decade the University of Michigan said in a Bleak Industry forecast. Only modest growth in the North american Market is expected in the next 10 years according to the annual report released monday by the University a transportation research Institute. Its Central message was a Call Back to basics for the big three at a time of flagging Auto sales and intense foreign Competition. A manufacturers cannot forget the purpose of their business to provide vehicles that Are desirable affordable and offer the customer real value while meeting the Broad expectations of society labor government and others a the report said. The . Passenger car Market is expected to grow just 1.1 percent annually Over the next 10 years the Institute said. By contrast demand for import models will grow by 2.1 percent. A corporate strategies must adapt to relatively Flat markets and strive to build Market share reduce costs and increase profit margins and reinvestment rates a the report said. The report prepared annually by the University institutes office for the study of automotive transportation was to be detailed monday at the automotive news world Congress in Detroit. The conference is being held in conjunction with the North american International Auto show. The University based its East on surveys of North american automating firms executives and engineers and their suppliers who discussed Industry trends in materials technology and marketing. Consumers discouraged by High priced luxury automobiles Are buying smaller cars equipped with More options said University of Michigan researcher David Andrea who wrote the report. A was a result the upper ends of each Price segment Are the fastest growing segments of the Auto Market a he said. A your respondents believe that the real transaction prices for cars and Light trucks will continue to Rise while real household income remains the same and real disposable personal income declines.�?�. Tighter government regulations on exhaust emissions fuel Economy and safety emerged As a major obstacle to . Automakers in this years forecast. A while regulatory activity was not a major concern of our 1989 panellists More than 75 percent of our 1991 panellists believe. Regulations will become More stringent a Andrea said. Despite the current focus on japanese Competition North american automakers can expect More production from car makers in Mexico Australia and India in the decade ahead the report said. Profitable markets for .-made cars and Light trucks Likely will emerge in Czechoslovakia Poland Hungary and other Eastern bloc nations the Institute said