Gao Shiyang has been trying hard to please the US, but was hit by US tariffs instead!
At around 1:00 PM on November 1st in Tokyo time, the US officially started implementing a 25% additional tariff on imported medium and heavy trucks and engine components. Despite Japan's previous efforts to seek exemption from the US, it clearly was not considered, making this country the biggest victim of this tariff policy.
The main countries exporting trucks to the US are Mexico, Canada, and Japan, but the largest importers, Canada and Mexico, can be exempted under the North American Free Trade Agreement. That is to say, if trucks exported by these two countries have more than 64% of their components produced within North America, they will be completely tax-free.
Therefore, the current US additional tariff policy on trucks essentially targets products mainly imported from Japan. Previously, the US imposed a 25% tariff on Japanese trucks, which was increased to 50% after the additional tax was imposed.
According to statistics from the Japan External Trade Organization, Japan exported over 15,000 trucks to the US that were subject to the additional tax last year.
Original article: www.toutiao.com/article/1847567547760780/
Statement: This article represents the views of the author.