Japanese auto industry seeks government help against US tariffs (updated)

Subaru

25/02/2025 11:12

(Writes through with details from meeting, minister)
       TOKYO, Feb 25 (Reuters) - Japan's automobile industry
association urged the government on Tuesday to try to shield
Japanese automakers from tariffs that the United States may
impose on imports of autos and parts.
    The Japan Automobile Manufacturers' Association is worried
about damage to the economies of both countries if U.S.
President Donald Trump's administration proceeds with hefty
tariffs on auto imports from Japan, Mexico and Canada, JAMA
Chairman Masanori Katayama said.
    Trump said last week he wants to impose 25% tariffs on
imports of autos as soon as April 2. Separate 25% tariffs on
steel and aluminum are slated to start on March 12.
    Katayama, also chairman of Isuzu Motors  7202.T , made his
remarks at the start of a meeting with Trade and Industry
Minister Yoji Muto in Tokyo. Top executives from automakers such
as Toyota  7203.T , Honda  7267.T  and Nissan  7201.T  were also
present. 
    Japanese automakers are vulnerable to any extra tariffs
Trump may impose, particularly on auto imports. 
    The U.S. remains the top market by vehicle sales for Toyota,
Honda and Nissan, which all make some of their most popular U.S.
models in either Canada or Mexico. Smaller firms such as Subaru
 7270.T  and Mazda  7261.T  are also exposed.
    During the meeting, which was closed to media, auto industry
executives expressed worries about not being able to pass on
higher costs from higher U.S. tariffs and about their economic
fallout, Muto told reporters afterwards.
    Muto met separately with representatives from Japan's steel
and aluminum industries about the tariff issue earlier on
Tuesday.
    Japan Iron and Steel Federation Chairman Tadashi Imai, also
president of Nippon Steel  5401.T , told reporters before that
meeting that the organisation's main concern was that the global
steel market may be depressed further if protectionism spreads.
    

 (Reporting by Daniel Leussink and Yuka Obayashi; editing by
Christian Schmollinger)
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