Japan's automobile industry association urged the government on Tuesday to try to shield Japanese carmakers from tariffs the US may impose on imports of autos and parts.
The Japan Automobile Manufacturers' Association is worried about damage to the economies of the two countries if US President Donald Trump's administration proceeds with hefty tariffs on auto imports from Japan, Mexico and Canada, said Jama chair Masanori Katayama.
Trump said last week he wants to impose 25% tariffs on imports of autos as soon as April 2. Separate 25% tariffs on steel and aluminium are slated to start on March 12.
Katayama, also chair of Isuzu Motors, made his remarks at the start of a meeting with trade and industry minister Yoji Muto in Tokyo. Top executives from carmakers Toyota, Honda and Nissan were also present.
Japanese carmakers are vulnerable to any extra tariffs Trump may impose, particularly on auto imports.
The US remains the top market by vehicle sales for Toyota, Honda and Nissan, which all make some of their most popular US models in Canada and Mexico. Smaller firms such as Subaru and Mazda are also exposed.
During the meeting, which was closed to media, auto industry executives expressed worries about not being able to pass on higher costs from higher US tariffs and about their economic fallout, Muto told reporters afterwards.
Muto met separately with representatives from Japan's steel and aluminium industries about the tariff issue earlier on Tuesday.
Japan Iron and Steel Federation chair Tadashi Imai, also president of Nippon Steel, told reporters before the meeting that the organisation's main concern was that the global steel market may be depressed further if protectionism spreads.
Japanese car industry seeks government help against US tariffs
Auto body concerned over damage to economy
Image: Ian Forsyth/Getty Images
Japan's automobile industry association urged the government on Tuesday to try to shield Japanese carmakers from tariffs the US may impose on imports of autos and parts.
The Japan Automobile Manufacturers' Association is worried about damage to the economies of the two countries if US President Donald Trump's administration proceeds with hefty tariffs on auto imports from Japan, Mexico and Canada, said Jama chair Masanori Katayama.
Trump said last week he wants to impose 25% tariffs on imports of autos as soon as April 2. Separate 25% tariffs on steel and aluminium are slated to start on March 12.
Katayama, also chair of Isuzu Motors, made his remarks at the start of a meeting with trade and industry minister Yoji Muto in Tokyo. Top executives from carmakers Toyota, Honda and Nissan were also present.
Japanese carmakers are vulnerable to any extra tariffs Trump may impose, particularly on auto imports.
The US remains the top market by vehicle sales for Toyota, Honda and Nissan, which all make some of their most popular US models in Canada and Mexico. Smaller firms such as Subaru and Mazda are also exposed.
During the meeting, which was closed to media, auto industry executives expressed worries about not being able to pass on higher costs from higher US tariffs and about their economic fallout, Muto told reporters afterwards.
Muto met separately with representatives from Japan's steel and aluminium industries about the tariff issue earlier on Tuesday.
Japan Iron and Steel Federation chair Tadashi Imai, also president of Nippon Steel, told reporters before the meeting that the organisation's main concern was that the global steel market may be depressed further if protectionism spreads.
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