US Faces Pushback in Global Tariff Talks | World Business Watch | WION

US Faces Pushback in Global Tariff Talks | World Business Watch | WION

and as negotiations around tariffs enter their final lap Japan has publicly reiterated that Tokyo cannot accept the 25% US tariff on imported vehicles A Bloomberg report notes that Japanese automakers produce around 3.3 million cars annually in the United States markedly more than the approximately 1.37 million vehicles that they export back to the US market Now Japanese negotiators are now traveling to Washington Washington for a seventh round of ministerial level talks aiming to persuade American officials to lift the tariffs targeting Japanese automotive exports Japan has stressed that these punitive duties have realworld consequences The nation’s trade dependent economy is feeling the pinch as car makers like Toyota face increased production costs while small suppliers are squeezed by rising prices The Bloomberg report highlights that Japanese firms have invested over $60 billion in the US supporting around $2.3 million American jobs Now that’s a point Tokyo hopes will strengthen its negotiating position Even as the reciprocal 25 pardon me 24% tariff on other Japanese goods remains paused till July Japan’s stance remains firm Without the full removal of auto tariffs no trade agreement will go forward and reports suggest that Japan is not prepared to compromise just for the sake of concluding a deal Instead Tokyo is determined to secure comprehensive relief before committing Meanwhile recent Reuters coverage underscores the complexity of navigating this issue against a tense political backdrop with Japan’s upper house election set for July Late July Prime Minister Shagirro Ishiba faces immense domestic pressure to protect the auto and agricultural sectors Analysts warned that potential concessions on either front could be politically risky In essence Japan is doubling down on its position It will not accept a trade accord unless US auto tariffs are fully withdrawn

Japan, US tariffs, imported vehicles, 25% tariff, Japanese automakers, car production, US-Japan trade, vehicle exports, trade negotiations, automotive industry, Bloomberg report, Tokyo stance, US market, international trade, tariff dispute

#usa #economy #business

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