Trump has accused Japan of engaging in unfair trade practices in the automobile sector, calling for Tokyo to boost imports of U.S. energy and goods to help narrow the trade deficit.
In a Fox News interview aired Sunday, Trump criticised the imbalance, noting that while the U.S. imports millions of Japanese vehicles, Japan takes few American-made cars in return:
Japan is currently trying to secure an exemption from a 25% U.S. auto tariff and avoid a 24% reciprocal tariff due to take effect July 9.
The auto industry makes up roughly 28% of Japan’s ¥21 trillion ($145 billion) in annual exports to the U.S.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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