In a cautionary move, Japan has warned the U.S. that any imposition of new tariffs will negatively impact U.S. consumers and its auto industry.
On Friday, Japan’s automakers association (JAMA) came down heavily on U.S. overtures to explore the possibility of raising tariffs on its auto exports, saying the potential move will negatively impact U.S. customers and the automobile industry.
“The investigation launched by the United States Department of Commerce to determine the effects on national security of imports of automobiles … will create uncertainty among automobile users in the U.S. and people involved in the motor vehicle industry,” said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association and president of Toyota Motor Corp in a statement.
Late last month, the Trump Administration launched a national security investigation into the import of cars and trucks. This could potentially lead to the imposition of new tariffs.
Japan is a major exporter of automobiles to the United States.