Japan's automobile industry faces 'enormous losses' due to U.S. tariffs, with some manufacturers reportedly losing up to $1 million per hour, Japanese Minister of Economic Revitalization Ryosei Akazawa revealed this week. The remarks underscore growing tensions in global trade dynamics as Japan urges Washington to reconsider its policies.
Akazawa emphasized that Tokyo has formally requested a review of the tariffs, stating Japan will take "all necessary measures" to protect its economic interests. The automotive sector, a cornerstone of Japan's economy, employs millions and accounts for nearly 20% of the country's exports.
Analysts suggest the tariffs — initially imposed during prior U.S. administrations — could disrupt supply chains and affect global car prices. The announcement comes amid heightened scrutiny of trade imbalances and evolving alliances in Asia-Pacific economic partnerships.
While automakers like Toyota and Honda expand electric vehicle production to meet climate targets, industry leaders warn that rising operational costs from tariffs may slow innovation. The developments highlight the delicate balance between trade protectionism and international cooperation in an era of economic uncertainty.
