Many Japanese investments in the US
The American import duties on cars are unacceptable for Japan, says Ryosei Akazawa, the most important trade envoy in the country. According to him, Japanese companies have now invested more than $ 60 billion in the United States and created 2.3 million local jobs.
Akazawa made his statements on Thursday just before his departure to Washington for the seventh round of trade discussions with his American counterparts. Japanese car manufacturers produce around 3.3 million cars in the US annually, a number that are much higher than the 1.37 million that are exported to the US, says the negotiator.
“We have repeatedly explained the US that the Japanese car industry makes a huge contribution to the American economy, and we will continue to explain this and continue to ask understanding,” said Akazawa.
The input rates on cars form a stumbling block in the negotiations between the two countries. Washington focuses on its trade shortages, while Tokyo tries to protect an important economic pillar. After six negotiating rounds in more than two months, the two parties have not yet succeeded in reaching an agreement on the import duties.
Akazawa leaves for Washington after Japanese Prime Minister Shigeru Ishiba and US President Donald Trump had failed to reach an agreement on the higher American taxes last week on the G7 summit. Like other countries, Japan has to do with a combination of general and sector -specific rates. The general rates will rise on July 9 from 10 to 24 percent, unless a deal is closed before that date.
Many Japanese Investments in the US
US Import Duties on Cars Are Unacceptable to Japan, Says Ryosei Akazawa, The Country’s Chief Trade Envoy. Accordance to him, Japanese companies have now invested more than 60 Billion Dollars in the United States and Created 2.3 Million Local Jobs.
Akazawa made his remarks on Thursday just before that departure to Washington for the Seventh Round of Trade Talks with his American Counterparts. Japanese Car Manufacturers produces Approximately 3.3 Million Cars Annually in the US, A Number That Is Much Higher Than The 1.37 Million That Are Exported To The Us, Accordination to the Negotiator.
“We have repeatedly explained to the us that the Japanese car industry makes a huge contribution to the American economy, and we will continuously to explain this and continuous to Ask for Understanding,” Said Akazawa.
Import tariffs on cars are a stumbling block in negotiations between the two country. Washington is focusing on its trade deficits, while tokyo is trying to protect an important economic pillar. After Six Rounds of Negotiations in More Than Two Months, The Two Parties Have Not Yet Succeded in Reaching An Agreement On Import Duties.
Akazawa is Leaving for Washington After Japanese Prime Minister Shigeru Ishiba and US President Donald Trump Failed to Reach An Agreement on Higher US Tariffs at the G7 Summit Last Week. Like Other Countries, Japan Faces A Combination of General and Sector-specific Tariffs. The General Tariffs Will Increase from 10 to 24 percent on July 9, Unless A Deal is Reached Before That Date.