Japan’s tariff-hit car giants in fight of their lives
Donald Trump’s 25 per cent duty on imported vehicles and parts could slash an average 18 per cent off volume sales from Toyota, Nissan and Honda in their most important market.
The trade war is just the latest setback for Japan’s once world-beating car industry. Michaela Pollock
Japan’s battle-worn car makers face a sharp fall in US sales because of Donald Trump’s tariffs, giving special urgency to bilateral talks in Washington this week to win them a reprieve.
Trump’s industry-specific 25 per cent duty on imported vehicles and parts could slash an average 18 per cent off volume sales by Toyota, Nissan, Honda and smaller manufacturers in their most important market, according to estimates this week by Asian investment house Citic CLSA.
Jessica SierNorth Asia correspondentJessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
