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The United States and Japan reached a new trade agreement last week. While the announcement was light on details, the market-moving information included a 15% tariff rate on Japanese imports into the U.S. Japanese car manufacturers rallied swiftly on the news, as the 15% rate is far less punitive than the 27.5% rate that was scheduled to take effect on August 1.
Mio Kato, founder of LightStream Research says Trump's tariff plans could lead to operation or financial tie-ups amongst Japanese automakers over the long-run.
Pre-Markets in Green Amid Trade Deal With Japan.
A new trade agreement was announced that lowers tariffs on Japanese imported autos to +15% from +27.5%, with $550B in loans and investments.
Shares of Japanese automakers surged on Wednesday, with Toyota gaining 11% and Honda advancing 9% after U.S. President Donald Trump said he had struck a trade deal with the Japan that includes a 15% tariff.
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HMC and NSANY are in talks to co-develop advanced vehicle software and expand U.S. manufacturing ties amid tariff pressures.
Nissan Motor is in discussions to supply cars to Honda Motor in the United States, Nikkei reported on Friday without citing sources.
Honda has reportedly put the brakes on a large electric SUV, following President Trump's decision to cut EV incentives in the US.
Consulting firm AlixPartners has completed a report on the effects of tariffs on the car industry. It assumes that car companies will pass 80% of tariff costs to buyers. The exact increase is expected to be $1,760. America’s two largest car manufacturers will bear the brunt of the financial costs. General Motors Co. (NYSE: GM) has 17% of U.S. car sales, while Ford Motor Co. (NYSE: F) has 13%. 24/7 Wall St. Key Points: America’s two largest car manufacturers are expected to bear the brunt of the effects of tariffs on the industry. Car sales could decline by a million units over the next three years. Take this quiz to see if you’re on track to retire. (sponsored) The report also forecasts that the increases will cut car sales by a million units over the next three years. Bloomberg says that GM has reported its expectations of the impact of tariffs will be $5 billion in the next year. Ford expects the impact to be $2.5 billion. Ford and GM are already under siege. Although sales hav