Faced with the 25% tariff that US President Donald Trump proposed on imported cars, Japan is making every effort to negotiate to ensure that this item is not affected.
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| Japan's exports to the US are expected to reach 21.3 trillion yen (about $145 billion) in 2024, with cars and other vehicles accounting for about a third of the total. (Source: Bloomberg) |
At a press conference in Washington, DC on March 10 (local time), Japanese Trade Minister Yoji Muto said he had asked the US not to impose tariffs on Japanese goods, but had not received any guarantees.
Japan is a close economic partner that has invested heavily in the US economy and created millions of jobs, Mr. Muto said.
Under executive orders signed by President Trump last month, new 25% tariffs on steel and aluminum imported into the US are scheduled to take effect on March 12.
"Japan has not received any response that it will be exempted," Minister Muto stressed.
During negotiations with US partners, Mr. Muto revealed that the two sides also discussed the country's desire to buy more liquefied natural gas (LNG) from Washington and its proposal to acquire steelmaking company US Steel.
In 2024, Japan's exports to the US will reach 21,300 billion Yen (equivalent to 145 billion USD), of which cars and other vehicles account for about 1/3 of the total turnover.
Japan is home to Toyota, the world's best-selling automaker. The health of the industry has a huge impact on many industries, from parts manufacturing to steel and microchips.
The White House boss has announced that he will impose a tariff of about 25% on imported cars, up from the current 2.5%. This tax will likely be applied from April 2.
The measure would deal a major blow to the Northeast Asian nation's auto sector.
The United States is the largest export destination for Japanese automakers. According to official trade data, about 1.37 million vehicles were shipped to the United States, accounting for 28.3% of the country's total exports to the world's largest economy.
President Trump has promised to impose higher tariffs on various industrial sectors — including semiconductors and pharmaceuticals — to boost the economy and create more jobs for American workers.
But his approach has sparked tit-for-tat trade wars with Canada and China, leaving American consumers facing the prospect of higher prices.
The leader's unpredictable moves have also caused concern among companies and financial markets around the world.
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