According to foreign media reports, Japanese Foreign Minister Takeshi Iwaya revealed that the Japanese government intends to hold trade negotiations with U.S. President-elect Trump, and the elimination of tariffs on automobiles and auto parts will be on the negotiation agenda.
According to Takeshi Iwaya, as early as five years ago during Trump’s first term, Japan and the United States reached a trade agreement that allowed American agricultural products to enter the Japanese market, while Japan avoided additional tariffs on its car exports to the United States.
At the Japanese Parliament meeting on December 6, Takeshi Iwaya said: “In the appendix to the Japan-US Trade Agreement, the United States has included automobiles and auto parts in the list for further negotiations on tariff reductions in the future.
The latest negotiations will be based on the premise of eliminating tariffs.
“, Photo source: Toyota Motor, Takeshi Iwaya’s remarks come as Japan, like other countries, is trying to adjust its thinking and strategies to deal with the possible consequences of Trump’s protectionist trade policies.
Trump has promised to impose additional tariffs of 10% to 20% on all overseas goods, including Japan.
, According to statistics from Japan’s Ministry of Finance, the United States will be Japan’s largest export destination in 2023, with automobiles and auto parts accounting for one-third of Japan’s total exports.
If Japan’s tariffs on cars and other products exported to the United States are raised, the operating profits of Japanese car companies such as Subaru and Mazda in 2025 are believed to be reduced by 30%.
Japanese car companies may be forced to adjust their production systems, such as moving production from Japan to the United States.
“Currently, the U.S. government is in a transition period,” Takeshi Iwaya said.
“We must collect information and analyze it carefully to understand the new U.S. government’s trade policy trends so that we can respond actively.
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