Mexican Media Brands
U.S. Agrees Not to Add Tariffs on Japanese Cars
The Trump administration confirms it won’t impose new tariffs on imported cars from Japan as long as U.S.-Japan trade talks continue to make progress.
#economics
Share
The Trump administration confirms it won’t impose new tariffs on imported cars from Japan as long as U.S.-Japan trade talks continue to make progress.
President Donald Trump and Prime Minister Shinzo Abe signed a narrowly defined trade deal yesterday that addresses digital trade between the countries, lowers Japanese tariffs on American farm products and reduces U.S. import taxes on Japanese machine tools and musical instruments.
The pact says the two countries will “refrain from taking measures against the spirit” of the agreement. Larry Kudlow, the Trump administration’s top economic adviser, told reporters earlier today that auto tariffs are “off the table.”
The deal says nothing about imported cars from Japan. Last year, the U.S. shipped $75 billion worth of goods to China and imported $142 billion in goods from Japan. Vehicles constitute the largest portion of Japan’s shipments.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.