International Business
From Times Staff and Wire Reports
Ford Negotiating Loan With Japan: The auto maker is discussing a $300-million loan with the government-controlled Import-Export Bank of Japan to help it develop right-hand-drive vehicles for export there, according to the Japanese newspaper Nihon Keizai. The action signals Japan’s eagerness to narrow its U.S. trade surplus and earn good will after resisting Clinton Administration calls to guarantee more imports of U.S. cars. The bank officially denied the report, but bank sources and a Ford official said they have discussed a loan with an interest rate of slightly above 4%.
