“It’s not appropriate to apply the case of Britain, which exports a smaller amount of vehicles, to Japan,” a senior official at the Japanese industry ministry said. “We don’t want to rush to make Britain a model,” a senior official at a Japanese government economic agency said.
The United States is an important market for the Japanese automobile industry, accounting for about 20 % of its total car exports in terms of volume and about 30 % in terms of value.
On Thursday, Toyota Motor Corp. said that its operating profit is estimated to decrease by 180 billion yen in April and May alone due to the US tariffs.
AloJapan.com