Japan automakers lose $20m a day from US tariff cut delay
RYOSUKE HANADA
TOKYO -- Seven major Japanese automakers lose an estimated 3 billion yen ($20.3 million) in combined profits each day that the U.S. delays lowering auto tariffs under the countries' recent agreement, with concerns about demand discouraging them from passing on the cost to customers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
7 hours ago
- Nikkei Asia
Japan's air conditioner makers step outside to fight summer heat
Daikin Industries trials an outdoor air-conditioning system in the Shibuya district of Tokyo in late July. (Daikin Industries) NARUSHI NAKAI OSAKA -- As record-breaking high temperatures scorch Japan, Japanese manufacturers are bringing air conditioning outdoors.
7 hours ago
Tariffs on Japanese Products to Be Revised: U.S. Official
News from Japan Aug 9, 2025 17:37 (JST) Washington, Aug. 8 (Jiji Press)--The United States will revise the way it applies the 15 pct reciprocal tariffs on Japanese products, a White House official told Jiji Press on Friday. The official said that the tariffs on imports from Japan will be 15 pct including existing tax rates, as is the case for products from the European Union. The remarks came after the 15 pct reciprocal tariffs on Japanese imports went into effect on Thursday. Japanese economic revitalization minister Ryosei Akazawa, who is in charge of tariff negotiations with the United States, said he confirmed with U.S. Treasury Secretary Scott Bessent and U.S. Commerce Secretary Howard Lutnick in Washington on Thursday that the U.S. side would revise the executive order on reciprocal tariffs to reflect the Japan-U.S. agreement reached in late July. The White House official also indicated that such a revision will be made. According to the Japanese government, the U.S. side agreed not to impose a reciprocal tariff on Japanese items that are already subject to tariffs of 15 pct or higher, while setting the reciprocal tariff rate at 15 pct for products with an existing levy of less than 15 pct. [Copyright The Jiji Press, Ltd.] Jiji Press
The Mainichi
10 hours ago
- The Mainichi
Japan, Peru leaders eye cooperation over critical minerals, defense
TOKYO (Kyodo) -- Japan and Peru agreed at their summit on Friday to deepen their ties as partners sharing common values, as they seek to build stable supply chains for critical minerals and boost defense cooperation amid China's rise. Prime Minister Shigeru Ishiba told visiting Peruvian President Dina Boluarte at his office that he wants to add impetus to Japanese investment in the South American nation, which has one of the world's largest Japanese diasporas, and spur tourism. "We are neighbors across the Pacific Ocean," Ishiba said. "We will aim to realize a free and open Indo-Pacific through defense cooperation." Japan and Peru view each other as "strategic partners" sharing fundamental values such as the rule of law and free trade. Peru is also an important supplier of critical minerals like copper and zinc to resource-poor Japan, and both nations are seeking to build robust supply chains. Boluarte hailed at the summit the strengthening of "the bond" built over years of political and economic cooperation, according to the Japanese government. While Peru has been on good terms with Japan, it has also been forging close ties with China. A Peruvian port in Chancay is symbolic of their deepening ties as it is part of Beijing's Belt and Road infrastructure cooperation initiative and seen as China's attempt to advance its military objectives in the region. During the meeting, Ishiba and Boluarte exchanged views over East Asia, Ukraine, the Middle East and other global issues such as nuclear disarmament, the Japanese government said. The Japanese leader secured the support of the Peruvian president for Japan's efforts to resolve the issue of Japanese nationals abducted by North Korea in the 1970s and 1980s, according to the Japanese government. Boluarte is visiting Japan for the World Exposition being held in Osaka, western Japan.
