The Japanese government is alarmed by President Trump's announcement of a 25% tariff on imported vehicles, effective April 2. Prime Minister Shigeru Ishiba has urged for exemptions for Japanese car manufacturers, as failure to do so could severely hurt the Japanese economy and automotive sector. With nearly one-third of Japan's exports tied to autos and related areas, experts suggest the tariffs could shrink the economy by 0.2%. Japanese companies face complex challenges due to complicated supply chains and previous investments based on free trade assumptions.
The overall impact on business here in Japan will be serious... the industry accounts for 8% of overall employment here.
When prices go up by more than a quarter because of these tariffs, the question becomes who will swallow those added costs.
Collection
[
|
...
]