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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.
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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.
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