
Just ahead of the July 9 deadline to reach an agreement on tariffs, US President Donald Trump announced his decision on the tariffs levels for 14 countries – including a rate of 25 per cent on Japan and South Korea – effective August 1.Trump accused Japan of not buying enough rice and cars from the US.
It’s worth noting that the American car industry is simply not competitive in Japan.
Germany, Japan and China are the top three auto exporters.
Those countries, along with South Korea, have...