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The Guardian
an hour ago
- The Guardian
‘Terrible fuel efficiency, no right-hand drive': why trade deal won't warm up Japan to American cars
Donald Trump has declared that Japan is opening up its domestic market to US cars as part of the bilateral trade deal announced this week. But American manufacturers will find it no easy task convincing Japanese drivers to choose what they see as oversized, unreliable gas-guzzlers. Announcing the agreement – which includes 15% tariffs on imports from Japan, including cars – Trump posted: 'Perhaps most importantly, Japan will open their country to trade including cars and trucks, rice and certain other agricultural products.' Earlier this month, the US president had complained: 'We didn't give them one car in 10 years – they send out millions but they won't take any of ours.' The US claims Japan uses non-tariff barriers (NTBs) to keep out American cars. Japan imported 16,707 American vehicles in 2024, according to the Japan Automobile Importers Association (JAIA). European brands, led by Mercedes-Benz and other German automakers, sold more than 250,000 into the same market, which overall is dominated by Japan's huge domestic auto industry. 'We don't receive any requests from our member companies to address non-tariff barrier issues,' said the JAIA's Sho Matsumoto. Takeshi Miyao, head of the Carnorama auto consultancy's Tokyo office, also says no such hurdles exist for US imports. 'There are non-tariff barriers on rice [another sticking point in the trade negotiations], because the government feels it has to protect Japanese farmers, but not on vehicles,' he says. US manufacturers like GM and Ford simply don't focus on the Japanese market, according to Miyao. 'They don't really do any marketing, and often don't even offer right-hand drive models. So the cars don't sell.' Size is also a problem, Miyao notes. The Ford F-150 pickup is around six metres long and 2 metres high. That kind of vehicular behemoth is particularly ill suited to Japan's narrow roads and tight parking spaces. US cars also have longstanding image problems, says Takahisa Matsuyama, an instructor for chauffeurs and private hire drivers in Tokyo. 'Going back to the days when we first came across US cars like Cadillacs, they're seen as having terrible fuel efficiency and breaking down easily; that impression hasn't changed much,' says Matsuyama. The 2025 car reliability rankings from Consumer Reports, a US non-profit organisation, bear this sentiment out. The top four marques were Subaru, Lexus, Toyota and Honda – all Japanese. The bottom four – Jeep, GMC, Cadillac and Rivian – were all American. Matsuyama points out that the biggest sellers in Japan have long been kei cars. Short for kei-jidosha (light vehicle), these compact cars and trucks are only allowed a tiny 660cc engine, and have topped sales rankings for decades – even as the government has gradually eroded the tax and insurance advantages they receive over regular vehicles. The automotive antithesis of the giant pickup, the kei truck has actually gained a cult fanbase in the US, mostly through private imports. Japan's automakers will now face 15% tariffs on their exports to the US, up from 2.5% and the highest levy in decades. But investors have welcomed the figure as much less than the originally threatened 25% hike, to a total of 27.5%. The news sent the Nikkei 225 index up more than 4% this week, and shares in Japan's biggest carmakers surged even higher – Toyota, Honda and Nissan all gaining more than 10%. One of Trump's perennial complaints in his trade and tariff war has been that other companies 'rip off' the US by selling it more than they buy from it. In that vein, as part of the bilateral negotiations, Tokyo has agreed to encourage Japanese auto brands that also build cars in US factories to import some of them into Japan. That may at least put some US-built vehicles into the showrooms of Japan that motorists might actually buy.
The Guardian
an hour ago
- The Guardian
China calls for global AI cooperation days after Trump administration unveils low-regulation strategy
Chinese premier Li Qiang has proposed establishing an organisation to foster global cooperation on artificial intelligence, calling on countries to coordinate on the development and security of the fast-evolving technology, days after the US unveiled plans to deregulate the industry. Speaking at the annual World Artificial Intelligence Conference (WAIC) in Shanghai, Li called AI a new engine for growth, adding that governance is fragmented and emphasising the need for more coordination between countries to form a globally recognised framework for AI. Li warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus was urgently needed. His remarks came just days after US president Donald Trump unveiled an aggressive low-regulation strategy aimed at cementing US dominance in the fast-moving field. One executive order targeted what the White House described as 'woke' artificial intelligence models. Opening the World AI Conference, Li emphasised the need for governance and open-source development. 'The risks and challenges brought by artificial intelligence have drawn widespread attention … How to find a balance between development and security urgently requires further consensus from the entire society,' the premier said. Li said China would 'actively promote' the development of open-source AI, adding Beijing was willing to share advances with other countries, particularly developing ones in the global south. The three-day event brings together industry leaders and policymakers at a time of escalating technological competition between China and the United States – the world's two largest economies – with AI emerging as a key battleground. Washington has imposed export restrictions on advanced technology to China, including the most high-end AI chips made by companies such as Nvidia and chipmaking equipment, citing concerns that the technology could enhance China's military capabilities. Li did not name the United States in his speech, but he warned that AI could become an 'exclusive game' for a few countries and companies, and said challenges included an insufficient supply of AI chips and restrictions on talent exchange. At a time when AI is being integrated across virtually all industries, its uses have raised major ethical questions, from the spread of misinformation to its impact on employment, or the potential loss of technological control. Earlier this week, news companies were warned of a 'devastating impact' on online audiences as search results are replaced by AI summaries, after a new study claimed it caused up to 80% fewer clickthroughs. The World AI Conference is an annual government-sponsored event in Shanghai that typically attracts major industry players, government officials, researchers and investors. Saturday's speakers included Anne Bouverot, the French president's special envoy for AI, computer scientist Geoffrey Hinton, known as 'the godfather of AI', and former Google CEO Eric Schmidt. Tesla CEO Elon Musk, who has in past years regularly appeared at the opening ceremony both in-person and via video, did not speak this year. The exhibition features predominantly Chinese companies, including tech companies Huawei and Alibaba and startups such as humanoid robot maker Unitree. Western participants include Tesla, Alphabet and Amazon. With Reuters and Agence France-Presse
Reuters
2 hours ago
- Reuters
Thailand's PTTEP buys full control in offshore gas block from Chevron for $450 million
SINGAPORE, July 26 (Reuters) - Thai oil and gas giant PTT Exploration and Production (PTTEP) ( opens new tab has acquired full ownership of Block A-18 in the Malaysia–Thailand Joint Development Area (MTJDA) in a $450 million transaction with Chevron (CVX.N), opens new tab units. PTTEP said in a statement late on Friday it signed the deal with Hess (Bahamas) and Hess Asia Holdings, both now owned by Chevron following a recent merger with Hess Corp ( opens new tab. The acquisition gives PTTEP 100% of the outstanding shares in Hess International Oil Corp, which holds a 50% participating interest in Block A-18, PTTEP said. The deal comes as Chevron restructures globally to streamline operations and reduce costs, a process that could see it lay off up to 20% of its workforce by the end of next year. Chevron is also seeking buyers for its 50% stake in its Singapore refinery, Reuters reported in June. PTTEP said natural gas from Block A-18 is fundamental to power generation for southern Thailand. The block produces about 600 million standard cubic feet of gas per day, which is equally distributed to Thailand and Malaysia. "PTTEP is pleased to further expand our operations in the MTJDA, which is recognized for its petroleum potential and strategic significance to Thailand's energy security," Chief Executive Officer Montri Rawanchaikul said in the statement. The MTJDA covers 7,250 sq km (2,800 sq miles) in the southern part of the Gulf of Thailand and is a key source of natural gas and condensate for Thailand and Malaysia, according to the statement.
