Mexican Media Brands
Report: Japan, U.S. to Begin Trade Talks on April 15
Trade envoys from Japan and the U.S. are likely to meet in Washington, D.C., on April 15-16 to begin high-level talks about reducing Japan’s auto trade surplus, sources tell Reuters.
#economics
Share
Trade envoys from Japan and the U.S. are likely to meet in Washington, D.C., on April 15-16 to begin high-level talks about reducing Japan’s auto trade surplus, sources tell Reuters.
The talks were prompted by President Donald Trump, who has complained since taking office about Japan’s $69 billion trade surplus with the U.S.—roughly two-thirds of it generated by the sale of exported cars. The Trump administration is conducting similar negotiations with China and the European Union.
In all three cases, Trump wants foreign carmakers to shift more production to the U.S. About 55% of Japanese-brand vehicles sold in the U.S. were assembled locally, and 75% were made in Canada, Mexico or the U.S., according to company data.
Those ratios (and actually unit sales) are significantly lower for European-brand vehicles and zero for Chinese cars.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.