Trump tariffs deliver body blow to Japan’s auto industry
After embracing the return of a once staunch ally, Japan’s car makers now find themselves on the front line of the trade war despite huge investments in the US.
Tokyo | Japan’s powerful auto industry lobbyists are returning to Tokyo after a frustrating few weeks, having failed to secure an exemption from Donald’s Trump’s latest tariff hit: a 25 per cent impost on foreign-made vehicles.
Japan generates about 6 trillion yen ($63 billion) in revenue from the 2.3 million new cars it sells in the US every year, so Trump’s latest volley in the trade war, announced on Wednesday in Washington (Thursday AEDT), is going to hurt.
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Jessica 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
