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· Trump steel and aluminum products tariffs or lead to rising Japanese car prices
According to foreign media reports, Japanese automakers lobbying organization warned that as President Trump implements a new tariff policy on imported steel and aluminum products, the price of Japanese cars will rise, but it is still too early to disclose the increase. How much will it be.
The Japan Automobile Manufacturers Association (JAMA) said on Thursday that the association is still waiting for the US to impose tariff exemptions on countries outside Canada and Mexico.
Hiroto Saikawa, chairman of JAMA and chairman of Nissan Motors, said that the imposition of new tariffs on imported steel and aluminum products by the United States will undoubtedly lead to an increase in the prices of all imported Japanese cars. He said at a news conference: "If the tariffs are to be levied, then all car companies will increase the price of their products. I don't think this will have a good impact."
Despite opposition from Republican colleagues and the US business community, Trump said last week that it would impose tariffs of 25% and 10% on imported steel and aluminum products.
Trump said that Canada and Mexico will temporarily obtain tariff exemptions until the outcome of the North American Free Trade Agreement negotiations. Other countries can apply for immunity from the United States based on their contribution to US national security and alliances such as NATO.
Although JAMA expects the price of imported Japanese cars to rise, Nishikawa has refused to disclose the price increase after the impact. This will depend on the possible exemptions and the differences between parts and manufacturers.
For example, Japanese car companies have begun to purchase commercial steel in the United States, so their steel components are relatively less affected by tariffs than aluminum. Nishikawa said: "We don't know what the future is like, we can only wait and see."