https://www.afr. com/markets/equity-markets/asx-to-slip-nvidia-resets-record-high-oil-steadies-20250626-p5madl 2 mins ago – 1.07PM
Japan can’t accept America’s 25 per cent car tariffs: trade negotiator
Bloomberg
Japan’s chief trade negotiator Ryosei Akazawa said the country can’t accept the US’s 25 per cent tariffs on cars, adding that the Asian nation’s automakers produce far more cars in the US than they export to America.
Japanese automakers make roughly 3.3 million cars in the US a year, a number that’s far larger than the 1.37 million that they ship there, Akazawa told reporters on Thursday before leaving for Washington to hold his seventh round of trade negotiations with US counterparts.
The companies have invested more than $60 billion in the US and created 2.3 million local jobs, Akazawa said.
“We have repeatedly explained to the US that Japan’s automobile industry has made an enormous contribution to the US economy, and we intend to keep explaining this clearly and seek understanding,” Akazawa said.
“In any case, we consider the 25 per cent automobile tariff to be unacceptable.”
LTR Price at posting:
71.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)