Japanese Prime MinisterShigeru Ishiba said Tokyo is considering “all options” in response, stressingthat automobiles account for nearly 28% of Japan’s exports to the US. “Japanhas created thousands of jobs in the US. That contribution must be recognized,”he told parliament.
European Commission PresidentUrsula von der Leyen labeled the measure harmful to both sides, noting the EUwould “evaluate the impact and safeguard its interests.”
The announcement also sentauto stocks tumbling. General Motors fell 3%, Ford 1.5%, while shares ofToyota, Mitsubishi, Nissan, and Honda dropped between 2.7% and 3.7% on theTokyo Stock Exchange.
The Trump administration hasimposed a range of tariffs since he took office, targeting Chinese goods aswell as steel and aluminum imports. In February, Trump approved 25% tariffs onMexican and Canadian imports, though he postponed implementation by a monthafter both countries agreed to new border security measures.
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