Japan's auto industry leaders on Tuesday called on the government to avoid tariffs that U.S. President Donald Trump wants to impose on imported cars and parts.
The Japan Automobile Manufacturers Association is concerned that high tariffs on cars imported from Japan, Mexico and Canada will harm economies of all countries if the Trump administration continues to move forward.
Trump said last week Want to impose a 25% tariff About the import of cars On April 2, a 25% tariff on steel and aluminum will begin on March 12.
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Katayama, also chairman of Isuzu Motors, spoke during a meeting with Tokyo's trade and industry minister Yoji Muto. Senior executives from automakers such as Toyota, Honda and Nissan were also present.
Japanese automakers are vulnerable to any additional tariffs that Trump may have on, especially on auto imports.
Vehicle sales in the U.S. are still the highest markets in the U.S., which are the most popular models in the U.S. in Canada or Mexico. Smaller companies such as Subaru and Mazda have also been exposed.
At a meeting shutdown to the media, auto industry executives expressed concerns that higher costs cannot be transferred through higher U.S. tariffs and their economic impact.
Muto met separately with representatives from Japan's steel and aluminum industries earlier on Tuesday.
Tadashi Imai, president of the Japan Federation of Iron and Steel, also president of Nippon Steel, told reporters ahead of the meeting that the organization's main concern is that the global steel market could further if protectionism spreads. Depression.
- Jim Pollard's additional editor Reuters
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