US President Trump’s 25% Tariff on Auto Imports Leads to Japanese Auto Giants’ Drop

US President Trump’s 25% Tariff on Auto Imports Leads to Japanese Auto Giants’ Drop

US President Trump’s 25% Tariff on Auto Imports Leads to Japanese Auto Giants’ Drop

• Shares in Japan’s largest car companies drop after Trump’s 25% tariff announcement.
• Toyota, Nissan, Honda, Mitsubishi Motors, and Hyundai all drop.
• The auto industry is a significant part of Japan’s economy, with about 10% of jobs connected to it.
• Vehicles accounted for a third of Japan’s US-bound exports in 2024.
• The chair of the Japan Automobile Manufacturers Association warned of the negative impact of US trade protectionism.
• Japanese ministers have been lobbying for tariff exemptions for goods like steel and vehicles, but these requests have been denied.
• Targeting imported cars could strain ties with close US partners.