Honda Motor Plans Shift of Domestic Production to U.S. as Japan Tackles 24 Percent Tariffs
(MENAFN) Honda Motor is preparing to move a portion of its domestic manufacturing operations to the United States in light of the 24% tariffs enacted by the Trump administration, according to a report released on Wednesday.
This decision coincides with Japan sending its Economic Revitalization Minister, Akazawa Ryosei, to the U.S. for negotiations regarding the tariffs. Akazawa stated he is "prepared for talks to protect the national interest."
The minister is set to engage with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. On Tuesday, Akazawa pointed out the ongoing decline in profits for Japanese firms, asserting that the government is committed to achieving favorable results swiftly.
Previously, Japanese Prime Minister Shigeru Ishiba declared that Tokyo "won’t compromise" in its efforts to resolve tariff discussions with Washington.
The 24% tariffs imposed by the Trump administration on Japanese imports, particularly targeting vehicles, steel, and aluminum, continue to be a significant issue. Although the U.S. has provided a 90-day exemption for all countries except China, President Trump’s extensive tariff policies are still affecting international trade.
In the meantime, Japan persists in its calls for Washington to grant it an exemption from these tariffs.
In related news, a high-ranking Indonesian delegation is heading to Washington to discuss the 32% tariff imposed on Jakarta’s goods, and South Korean Finance Minister Choi Sang-mok is expected to meet with Bessent next week.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
