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US automakers say Trump’s 15% tariff deal with Japan puts them at a disadvantage
UNITED STATES, JUL 23 – U.S. automakers say the trade deal lowers Japanese vehicle tariffs to 15% but keeps higher tariffs on Mexico and Canada, creating a competitive disadvantage, the American Automotive Policy Council said.
- U.S. automakers are concerned that President Donald Trump's 15% tariff on Japanese vehicles will disadvantage them, as they face higher import taxes on materials and parts than their competitors from Japan.
- Matt Blunt, president of the American Automotive Policy Council, stated that U.S. companies face a 50% tariff on steel and aluminum, and a 25% tariff on parts.
- Automakers, including General Motors and Stellantis, reported significant financial losses attributed to Trump's tariffs, with General Motors indicating a loss of $1 billion in the second quarter.
- Trump's agreement includes Japan investing $550 billion in U.S. projects while U.S. automakers call the deal a bad one, expecting it to adversely affect their market conditions.
218 Articles
218 Articles
The McDowell News
Winona Daily NewsUS automakers say Trump's 15% Japan tariff deal unfair
U.S. automakers worry that President Donald Trump's agreement to tariff Japanese vehicles at 15% would put them at a competitive disadvantage, saying they will face steeper import taxes on steel, aluminum and parts than their competitors.
US automakers say Japan deal unfair
U.S. automakers worry that President Donald Trump's agreement to tariff Japanese vehicles at 15% would put them at a competitive disadvantage, saying they will face steeper import taxes on steel, aluminum and parts than their competitors.
Japan PM vows "steady" implementation of U.S. tariff deal
Prime Minister Shigeru Ishiba said Friday he wants to oversee the "steady" implementation of a recently clinched trade deal with the United States as the embattled leader met with opposition leaders amid pressure from inside his own party to resign.
Trump's Trade Deal With Japan A Tax On Americans — Economist Says, 'Not Remotely Optimistic' US Auto Companies Will Gain As Toyota And Honda Stocks Rally - General Motors (NYSE:GM), Subaru (OTC:FUJHY)
Economist Justin Wolfers is pushing back against the narrative surrounding President Donald Trump’s new trade agreement with Japan, arguing that the deal essentially results in a tax increase for American consumers. What Happened: On Thursday, in a post on X, Wolfers addressed what he refers to as a “confusion in the reporting” of Trump’s latest trade deal with Japan. “So let me clarify,” he says, accompanied by a video of his recent appearance …
US automakers say Trump trade deal gives unfair edge to Japan
U.S. car companies are protesting President Donald Trump’s new trade deal with Japan, saying it gives that country’s automakers an unfair advantage. The deal calls for a 15% tariff on Japanese-made vehicles, far less than the levies American companies have to pay on imported steel, aluminum and other parts to manufacture vehicles domestically. Copy URL Save image Email Facebook Twitter / X Reddit Unbiased. Straight Facts.TM…
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