Some of the most popular automakers among motorists in the United States, including Honda (HMC) , Toyota (TM) and Subaru, warn that U.S. trade tariffs will eat into their output if they come through next month.
According to a report by Automotive News, Japanese automakers' leaders are anticipating damage to their sector as they scramble to find a solution to mitigate the damage that could be done if 25% tariffs on all auto imports were to take effect on April 2.
The head of Japan's auto lobby, the Japan Automobile Manufacturers Association (JAMA), warned that President Trump's tariffs could throw a monkey wrench into the plans of automakers like Honda and Toyota.
“If this were to happen on April 2, we could expect a significant production adjustment,” JAMA Chairman Masanori Katayama said at its monthly news conference. “If production has to be adjusted, where would the damage be done, and how should we take care of it?”
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