JAPAN’S Prime Minister Shigeru Ishiba has condemned Washington’s decision to impose steep tariffs on auto imports and parts, calling it “extremely regrettable.”
As Asian markets opened on Thursday, March 27, carmaker stocks saw sharp declines, prompting Ishiba to say that Tokyo was “considering all possible countermeasures.”
“Japan is a country that is making the largest amount of investment to the United States, so we wonder if it makes sense for (Washington) to apply uniform tariffs to all countries. That is a point we’ve been making and will continue to do so,” Ishiba told parliament.
“We need to consider what’s best for Japan’s national interest. We’re putting all options on the table in considering the most effective response,” Ishiba said, without elaborating on the possible steps Tokyo could take.
The ICIR reports that U.S. President Donald Trump announced steep tariffs on auto imports and parts on Wednesday, March 26, ahead of additional trade levies expected next week.
“What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the United States,” Trump said, as he signed the order in the Oval Office.
Trump noted that the duties would take effect at 12:01 a.m. (0401 GMT) on April 3, targeting foreign-made cars and light trucks, with key automobile parts also facing tariffs later in the month.
Meanwhile, Trump’s senior counselor for trade and manufacturing, Peter Navarro, in a briefing after the announcement, blasted “foreign trade cheaters” who, he said, turned America’s manufacturing sector into a “lower wage assembly operation for foreign parts.”
Navarro particularly criticised Germany and Japan for keeping the production of higher-value parts within their own countries.
Reacting, Canadian Prime Minister Mark Carney condemned Trump’s tariffs as a “direct attack” on his country’s workers, stating that the cabinet would meet on Thursday to discuss possible retaliation.
Similarly, South Korea’s auto industry minister Ahn Duk-geun announced on Thursday that the government was planning an emergency response by April.
“Global uncertainties are growing, but South Korean auto companies will not be fighting alone,” Ahn said. The government will consider financial assistance, investment support, and help with market diversification, Duk-geun said.
Brazil’s President Luiz Inácio Lula da Silva warned that Trump’s additional tariffs could harm the U.S. economy.
“Protectionism benefits no country in the world,” Lula said at a press conference in Tokyo on Thursday, vowing to file a complaint with the World Trade Organization over the trade levy on Brazilian steel.
The ICIR reports that the latest tariff hike adds to existing duties Trump has introduced since assuming office in January.
Trump imposed 25 per cent duty on steel and aluminum on imports from key US trading partners, Canada, Mexico, and China, in the first week of March.
Nanji is an investigative journalist with the ICIR. She has years of experience in reporting and broadcasting human angle stories, gender inequalities, minority stories, and human rights issues.