All articles tagged with #japan trade deal
President Trump's recent trade deal with Japan, lowering tariffs on Japanese cars from 25% to 15%, has faced criticism from automakers, unions, and economists, who argue it disadvantages U.S. automakers, benefits transnational companies relying on low-wage labor, and leaves key tariffs on steel, aluminum, and car components unchanged, ultimately harming American manufacturing and consumers.
U.S. automakers are disappointed with a new trade deal between the US and Japan, as it maintains high tariffs and doesn't address their main challenges, such as producing small cars preferred in Japan or navigating different standards, leading to concerns about competitiveness and policy inconsistency.
The new trade agreement between the US and Japan reduces tariffs on Japanese cars to 15%, potentially giving Japanese automakers an advantage over US, Canadian, and Mexican manufacturers, who face higher tariffs. US automakers express concern that this could hurt their competitiveness unless similar deals are made with other countries. The tariffs are expected to influence car prices and sales, but the full impact will take time to materialize, especially given the challenges Japanese cars face in the US market.