US car part tariffs hit Japanese and South Korean makers, deemed a "national crisis" in Japan.

US tariffs on car parts at 25% are impacting Japanese and South Korean manufacturers, potentially raising costs for car buyers or reducing company profits. These small-to-medium enterprises supply parts to major car brands and are crucial to their economies. Japan's Prime Minister has called it a "national crisis" and promised relief measures, while South Korea plans to inject $2 billion in aid. The tariffs could alter the industry's focus, possibly shifting towards Asian markets for growth.

1 week ago
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