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The Mainichi
22-05-2025
- Automotive
- The Mainichi
Japan auto body urges swift removal of Trump's additional tariffs
TOKYO (Kyodo) -- The head of Japan's auto industry body urged Thursday the swift removal of U.S. President Donald Trump's additional 25 percent tariffs on cars and their parts, as Tokyo plans another round of ministerial-level tariffs talks with Washington later this week. "We hope for tenacious talks to achieve an early agreement," Masanori Katayama, chairman of the Japan Automobile Manufacturers Association, told a press conference. He added that the association looks forward to "productive dialogue" to continue between Japan and the United States and hopes such discussions will foster the business environment of both countries' automotive industries. Japan's top tariffs negotiator, Ryosei Akazawa, is set to travel to the United States from Friday for the third round of tariffs talks with U.S. ministers, where negotiations in the auto and farm sectors are set to be in focus. Major Japanese automakers including Toyota Motor Corp. and Honda Motor Co. have projected a fall in net profits, while others skipped releasing their earnings estimates for the current year through March due to uncertainties over Trump's tariff measures. "It is impossible" for tariffs on autos not be negotiated in the talks with the United States, Katayama, chairman and CEO of Isuzu Motors Ltd., told reporters. Katayama stressed that Japanese automakers have contributed significantly to the U.S. economy, unveiling latest data that they have invested some $66.4 billion in the country since 1982, when local production there was launched, through the end of 2024. Data also showed that the automakers locally produced 100 million units. In 2024, 3.28 million units were produced, generating 110,000 jobs. Trump's auto tariffs have weighed on Japan's mainstay auto sector. According to official Japanese trade data, about 1.37 million vehicles were shipped to the United States in 2024, accounting for 28.3 percent of its total exports to the world's largest economy in terms of value.
Yahoo
07-04-2025
- Automotive
- Yahoo
Japan's vehicle market grows 11% in March
Japan's new vehicle market expanded by 11% year-on-year to 499,745 in March 2025, up from 451,444 units in the same month last year, according to registration data released by the Japan Automobile Manufacturers Association. The country's vehicle market last month continued to rebound from weak year-earlier data, when Daihatsu Motor - Toyota Motor's small car subsidiary - was forced to halt production of a number of key models following a safety test rigging scandal. This also affected other affiliated brands, including Mazda and Subaru. In the first quarter of the year, the market expanded by almost 14% to 1,285,351 units from 1,131,140 a year earlier, with sales of passenger cars rising by 14% to 1,103,666 units, while truck sales increased by 11% to 178,086 units and sales of medium and large buses and coaches surged by 23% to 3,599 units. Toyota's first-quarter domestic sales rose by 20% to 392,745 units, while Daihatsu's sales surged almost threefold to 132,590 units from very depressed year-earlier levels, and Mazda's volumes rebounded by 25% to 49,284 units. Brands not affected by last year's production stoppages did not perform as well in this period, including Suzuki which saw its sales fall by 2% to 201,038 units, and Nissan with a 9% decline to 133,337 units, while Honda's sales were unchanged at 184,055 units. Overseas brands account for just 4% of total vehicle sales in Japan year-to-date, led by German automakers including Mercedes-Benz, BMW-Mini, Audi and Volkswagen. "Japan's vehicle market grows 11% in March" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Japan Times
31-03-2025
- Automotive
- Japan Times
Ishiba pledges measures to protect jobs from Trump's car tariffs
Prime Minister Shigeru Ishiba pledged to take thorough measures to protect local jobs from the Trump administration's 25% tariff on U.S. car imports, which he said will have a "very big' impact on the nation's economy. Ishiba emphasized the need to consider measures to help Japanese companies with financing while the government tries to grasp the entire scope of the impact on the nation's key industry. "I recognize that the impact that this will have on the economy will be very big,' Ishiba said in parliament on Friday. "We also need to consider cash-flow measures for companies. We will take all possible measures so that this won't affect domestic industries or employment.' The prime minister spoke for the second day in a row about the car tariffs. U.S. President Donald Trump announced the fresh tariff will go into effect at 12:01 a.m. Washington time on April 3, initially targeting fully assembled vehicles. By May 3, the scope will expand to include major automobile parts, according to the proclamation. Nations including Japan are also bracing for an even broader announcement of so-called reciprocal tariffs around the same time. Last year car and car parts accounted for a little over one-third of Japan's exports to the U.S., its biggest export destination. Auto-related companies including material providers employ 5.58 million people in the country, or 8.3% of the total workforce, according to the Japan Automobile Manufacturers Association. The Japanese government is considering easing non-tariff barriers in order to seek an exemption from the U.S. tariffs, the Asahi Shimbun reported citing unnamed government sources. Ministries are mulling relaxing industrial standards for automobiles and home appliances, as well as quarantine for agricultural products, it said. Japan upholds persistent non-tariff barriers against U.S. businesses in a range of industries including cars, the digital economy and cosmetics, according to the American Chamber of Commerce in Japan, which submitted its thoughts on the matter in March to the United States Trade Representative. Japan's car safety standards impose unnecessary costs and restrict access for American automakers, according to the ACCJ. Tokyo's recent regulations on smartphone software also unfairly targets U.S. firms over domestic and Chinese competitors, while Japanese rules on biopharmaceutical pricing undervalue U.S. innovation, the business lobby said. Since his inauguration, Trump hasn't singled out any of these specific non-tariff barriers, as his focus appeared to be on bringing investments into the U.S. rather than gaining greater access to other markets including Japan's. U.S. carmakers have long complained about Japan's stringent safety standards, as they struggle to make inroads into the Japanese market despite Tokyo imposing no tariffs on imported American cars. Analysts say that their limited advances in Japan has a lot more to do with their inability to adjust to the local market. For instance, American vehicles remain left-hand drive, the opposite to the local standard.
Yahoo
28-03-2025
- Automotive
- Yahoo
Ishiba Pledges Measures to Protect Jobs From Trump's Car Tariffs
(Bloomberg) -- Japanese Prime Minister Shigeru Ishiba pledged to take thorough measures to protect local jobs from the Trump administration's 25% tariff on US car imports, which he said will have a 'very big' impact on the nation's economy. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes Affordable Housing Developers Stalled by Blocked Federal Funds Ishiba emphasized the need to consider measures to help Japanese companies with financing while the government tries to grasp the entire scope of the impact on the nation's key industry. 'I recognize that the impact that this will have on the economy will be very big,' Ishiba said in parliament on Friday. 'We also need to consider cash-flow measures for companies. We will take all possible measures so that this won't affect domestic industries or employment.' The prime minister spoke for two days in a row about the car tariffs. US President Donald Trump announced the fresh tariff will go into effect at 12:01 a.m. Washington time on April 3, initially targeting fully assembled vehicles. By May 3, the scope will expand to include major automobile parts, according to the proclamation. Nations including Japan are also bracing for an even broader announcement of so-called reciprocal tariffs around the same time. Last year car and car parts accounted for a little over one-third of Japan's exports to the US, its biggest export destination. Auto-related companies including material providers employ 5.58 million people in the country, or 8.3% of the total workforce, according to the Japan Automobile Manufacturers Association. The Japanese government is considering easing non-tariff barriers in order to seek an exemption from the US tariffs, the Asahi newspaper reported citing unnamed government sources. Ministries are mulling relaxing industrial standards for automobiles and home appliances, as well as quarantine for agricultural products, it said. Japan upholds persistent non-tariff barriers against US businesses in a range of industries including cars, the digital economy and cosmetics, according to the American Chamber of Commerce in Japan, which submitted its thoughts on the matter in March to the United States Trade Representative. Japan's car safety standards impose unnecessary costs and restricts access for American automakers, according to the ACCJ. Tokyo's recent regulations on smartphone software also unfairly targets US firms over domestic and Chinese competitors, while Japanese rules on biopharmaceutical pricing undervalue US innovation, the business lobby said. Since his inauguration, Trump hasn't singled out any of these specific non-tariff barriers, as his focus appeared to be on bringing investments into the US rather than gaining greater access to other markets including Japan's. US carmakers have long complained about Japan's stringent safety standards, as they struggle to make inroads into the Japanese market despite Tokyo imposing no tariffs on imported American cars. Analysts say that their limited advances in Japan has a lot more to do with their inability to adjust to the local market. For instance, American vehicles remain left-hand drive, the opposite to the local standard. Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World Israel Aims to Be the World's Arms Dealer The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? ©2025 Bloomberg L.P.
Yahoo
27-03-2025
- Automotive
- Yahoo
Ishiba Says Japan Won't Rule Out Countermeasures on Car Tariffs
(Bloomberg) -- Japanese Prime Minister Shigeru Ishiba said he won't rule out countermeasures against the Trump administration's 25% tariff on US car imports. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. Affordable Housing Developers Stalled by Blocked Federal Funds 'We must consider appropriate responses and naturally, all options are on the table,' Ishiba said Thursday in parliament. 'The bottom line is that we must consider what will best serve the national interests of Japan.' Ishiba spoke after US President Donald Trump announced the fresh tariff will go into effect on April 2 for all cars that are not made in the US. The levies will hit Tokyo despite repeated in-person pleas by Japanese ministers for an exemption and a summit in February in which Ishiba promised to buy more US liquefied natural gas and boost Japan's investment into the US to $1 trillion. 'We invest in the US, we provide employment, and we pay the highest wages. We are the largest investor in the US,' Ishiba said. 'We must clearly state that it is not right to treat all countries in the same way.' The tariffs will likely deliver only a small blow to Japan's economy partly because the Asian nation's automakers will retain relative competitiveness, given that the measure will apply to all nations, according to Goldman Sachs. The auto sector is a key pillar of Japan's economy and its trade with the US. Last year car and car parts accounted for a little over one-third of Japan's exports to the US, its biggest export destination. Auto-related companies including material providers employ 5.58 million people in the country, or 8.3% of the total workforce, according to the Japan Automobile Manufacturers Association. Still, analysts expect any impact on the nation's gross domestic product to be relatively minor. Goldman Sachs expects the auto tariffs to shave only a little over 0.1 percentage point off Japan's GDP growth rate, analysts Tomohiro Ota, Akira Otani and Yuriko Tanaka wrote in a report. Kenichi Kawasaki, a professor at the National Graduate Institute for Policy Studies, estimates the tariffs are likely to cut car production in Japan by 5.8%. Still, Kawasaki, the former Cabinet Office director for the economic outlook, also forecasts that auto production in Canada and Mexico would fall by 26.6% and 20.3% respectively, adding to the pain of Japanese automakers that make cars in those nations. Shares of Japanese carmakers slumped on Thursday following news of the auto tariffs, with Toyota Motor Corp., the world's largest carmaker by delivery, sinking as much as 4%. The yen was strengthening against the dollar Thursday morning. --With assistance from Takashi Hirokawa. (Updates with comments from the prime minister, market reactions) Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? How TD Became America's Most Convenient Bank for Money Launderers ©2025 Bloomberg L.P.
