According to foreign media reports, Japanese Foreign Minister Takeshi Iwaya revealed that the Japanese government intends to negotiate with the US president Trump and cancel the tariffs on automobiles and car parts on the negotiating agenda.
According to takeshi iwaya, as early as five years ago, Trump’s first term, Japan and the United States reached a trade agreement that entered the Japanese market in the United States, while Japan avoided its automobile export to the United States to be being exported to the United States. Add additional tariffs.
At the Japanese Congress on December 6, Takeshi Iwaya said: “In the appendix of the” Japan -US Trade Agreement “, the United States has included car and car parts in the list of further negotiations on tariff reduction. The latest negotiations It will be based on the premise of canceling tariffs.
As Takeshi iwaya published the above remarks, Japan is working hard to adjust their ideas and strategies like other countries to cope with the possible consequences of Trump’s protectionist trade policy. Trump promised 10%to 20%of extra tariffs on all overseas products including Japan.
According to statistics from the Ministry of Finance of Japan, the United States was the largest export destination in Japan in 2023, of which automobiles and car parts accounted for one -third of Japan’s total exports. If the tariffs on cars such as the United States exported to the United States are raised, the operating profit of Japanese car companies such as Subaru and Mazda will be considered to be reduced by 30 %. Japanese car companies may be forced to adjust the production system, such as transferring production from Japan to the United States.
“At present, the U.S. government is in a transition period,” said Takeshi iwaya. “We must collect information and analyze it carefully to understand the new US government’s movement in trade policies, so as to actively cope.”