Japan Fights Against U.S. Auto Tariffs

Japanese Prime Minister Shigeru Ishiba announced efforts to secure an exemption from U.S. auto tariffs. The government plans measures to mitigate economic impacts, including possible financial support for affected firms. The announcement follows President Trump's proposal of a 25% tariff, posing a threat to Japan's export economy.

In a decisive move to shield its economy, Japan is intensifying efforts to obtain an exemption from U.S. auto tariffs, according to Prime Minister Shigeru Ishiba on Tuesday. The new tariffs proposed by President Trump threaten to impact Japan's robust auto export industry significantly.

Speaking at a news conference, Ishiba declared that the government is prepared to implement measures to offset the adverse effects of such tariffs, including financial assistance to financially struggling companies. These steps are crucial as Japan braces itself against the forthcoming economic challenges.

President Trump's recent announcement to impose a 25% levy on automobile imports has raised concerns among Japanese manufacturers about potential economic repercussions. Ishiba vowed to negotiate with Japan's ruling coalition to devise specific countermeasures, reflecting a commitment to protect the nation's economic interests.

(With inputs from agencies.)