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Shares of Japan's major automakers fell sharply after President Trump announced a 25% tariff on auto imports, with Toyota down 3.7%, Nissan 3.2%, and Honda 3.1%. The auto industry is crucial to Japan's economy, accounting for about 10% of jobs and a significant portion of US-bound exports. Japanese officials have sought tariff exemptions but have faced refusals, raising concerns about the broader economic impact.
Japan's automobile industry association has urged the government to protect local automakers from potential U.S. tariffs on auto imports, which could severely impact both economies. JAMA Chairman Masanori Katayama expressed concerns during a meeting with Trade and Industry Minister Yoji Muto, highlighting the vulnerability of major manufacturers like Toyota, Honda, and Nissan. The proposed 25% tariffs, set to begin soon, could hinder the ability to absorb increased costs and lead to broader economic repercussions.
Masanori Katayama
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Japanese automakers face stock decline after US tariff announcement
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Honda Motor Co., Ltd.
Hyundai Mobis Co.,Ltd
Toyota Motor Corp
Mitsubishi Motors Corp
Nissan Motor Co., Ltd.
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Donald Trump
Masanori Katayama
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13:57 27.03.2025
Japanese auto industry seeks government support against potential US tariffs
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Isuzu Motors Ltd.
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Yoji Muto
Tadashi Imai
Masanori Katayama
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18:16 25.02.2025
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