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US tariffs on imported cars threaten Japan's economy, prompting potential countermeasures.
US President Donald Trump's announcement of a 25% tariff on imported cars starting April 3 has prompted Japan to consider countermeasures.
Prime Minister Shigeru Ishiba stated that Japan will evaluate all options, as the auto industry, which accounts for about 10% of Japan's jobs and a third of its $142 billion in US exports, could be severely impacted.
Shares of Toyota, Nissan, Honda, and others dropped sharply following the announcement.
Japanese efforts to secure exemptions have been denied, and the tariffs could affect Japan's GDP and car production.
4 weeks ago
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