Mexican Media Brands
U.S.-Japan Trade Talks Off to a Shaky Start
Working level talks about avoiding hefty U.S. tariffs on cars from Japan began with the two sides far apart, The Nikkei reports.
#economics
Share
Working level talks about avoiding hefty U.S. tariffs on cars from Japan began with the two sides far apart, The Nikkei reports.
President Donald Trump is threatening 25% taxes on vehicles imported from Japan if it doesn’t get a deal it likes. He and Japan Prime Minister Shinzo Abe agreed last September that they would refrain from further tariffs pending the outcome of trade talks.
Japan wants the U.S. to lift its current tariffs of 2.5% on passenger cars, 25% on light-duty trucks and 2.4% on large motorcycles. The U.S. had agreed to those terms in 2916 as part of the Trans-Pacific Partnership treaty. But Trump withdrew the U.S. from the agreement upon taking office in 2017.
Now the White House is offering to immediately drop tariffs on most imported auto parts from Japan—but retain current duties on cars for 25 years—in return for relaxing Japanese taxes on imported agricultural products, The Nikkei says.
RELATED CONTENT
-
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.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.