Japan, on alert for the tariffs that Donald Trump seeks to impose on the importation of cars

The commercial war that the president launched, Donald Trump, Against different countries it is still increasing.

In this context, The Japan government said Monday that it will analyze the impact on the local tariff industry that Trump threatened to impose on Mexico and Canada, and that would especially affect the japan manufacturers of vehicles.

“We are going to monitor with great interest the possible influence on the world economy, and in the economy and the Japanese companies,” Japanese finance minister said today at a press conference, Katsunobu kato, when asked about the new tariff measures advanced by the US government on the eve on the occasion of its inauguration.

Donald Trump tariffs: Japan’s warning for new taxes to cars

For Japan, the possibility of new tariffs by the US threatens an economy that, according to forecasts, contracted slightly last year.

The new levies and new problems for the economy are also added to the challenges for Prime Minister Shigeru Ihiba in his attempt to underpin support for his minority government.

According to recent data, South Korea and Japan together produced 16.8% of vehicles sold in the US last year, with a notable 8.6% from South Korea.

Although these countries have been great exporters, they face the possibility that Trump imposes additional tariffs that could affect their competitiveness in the US market. Currently, Japanese car importers face a 2.5%tariff, while South Korean vehicles enjoy a complete exemption, which has allowed Hyundai to become the second largest car exporter to the US, only behind Mexico.

Japan tariffs on all imports from the US reach an average of 3.2% this year, compared to 1.4% that the US imposes on Japanese products, according to Kenichi Kawasaki estimates , Professor of the National Postgraduate Institute for Political Studies.

Reducing Japanese tariffs instead of increasing Americans can make sense from the strategic point of view for Trump, according to Kawasaki.

Trumpannounced that from April 2 will implement tariffs on cars, which will impact, among others, on the economy of Mexicosince according to S&P Global Mobility points out that more than 40% of the heaviest trucks in class 8 sold in the United States are imported from Canada and Mexico.

This new measure was presented by the president himself from his oval office in Washington.

The wave of tariffs had already been announced at the beginning of its second management, however, the president Claudia Sheinbaum He managed to pause the first 25% tariff for the period of one month.

Since its inauguration, Trump has imposed a ten percent tariff on all imports from China, in addition to existing levies; He announced and then delayed the 25 percent tariffs for the goods from Mexico and the non -energy imports of Canada; He set on March 12 as the start date of 25 percent tariffs to all imports of steel and aluminum; And on Thursday he ordered his economic team to design plans to impose reciprocal tariffs on all countries that tax US imports.