Reuters: Trump says Japan's auto trade is "unfair" and may buy more US oil
Reuters reported on June 30 that US President Trump accused Japan of "unfair" practices in its auto trade with the United States during an interview with Fox News, urging Japan to increase purchases of American crude oil and other energy resources to reduce the US trade deficit with Japan. Trump said, "Japan refuses to buy American cars but floods the US market with millions of Japanese cars," emphasizing that he has already pressured Japan on this issue. Faced with the threat of a 24% "reciprocal tariff" on US auto imports set to take effect on July 9, Japan is urgently seeking exemption from the current 25% auto tariff. Data shows that the automotive industry accounts for 28% of Japan's annual exports to the US, worth 2.1 trillion yen (about 145 billion US dollars). Analysts point out that the combined impact of double tariffs could severely hit Japan's manufacturing core - for example, Toyota sells 2.4 million vehicles annually in the US. If costs surge, it might be forced to exit the North American market, which would also affect 6,000 local parts companies and 450,000 jobs. UBS estimates that if the tariffs are implemented, Japan's GDP growth in 2025 could be cut in half from 1.3% to 0.6%. It has become a focal point of industry negotiations that Japanese companies need to purchase large amounts of energy from the US to obtain tariff exemptions.
Original text: https://www.toutiao.com/article/1836319762592777/
Statement: This article represents the views of the author himself.