CCTV News: Recently, US President Trump has repeatedly stated in public that he will impose a tariff of about 25% on imported cars as early as April 2 this year. In response, Japanese expert Hideo Kumano said that once the United States imposes tariffs on imported cars, it will seriously impact the Japanese automobile industry and the Japanese economy.
Hyeto Kumano said that at present, automobiles account for 28% of Japan's total exports to the United States. If the United States imposes a 25% tariff on imported cars officially implemented, it will have a serious impact on Japanese automakers and even the Japanese economy.
Chief economic analyst of the Japan First Life Economics Institute, Hideho Kumano said: "Japan's automobile export cost to the United States will increase by 25%, so the prices of Japanese cars sold in the United States may also rise sharply. This will lead to the deterioration of the performance of Japanese car companies, and the benefits of related manufacturers that cooperate with car companies will deteriorate. For example, automobile production declines, steel, machinery, glass, and chemicals, the negative impact will affect various fields. I think the negative impact on the Japanese economy is immeasurable."
Hyeho Kumano pointed out that if the US government insists on raising the tariff rate on imported cars, it will only increase the inflationary pressure in the United States, affect consumers' car purchase costs, and "backlash" the US economy.
Hyeho Kumano said: "In fact, the imposition of tariffs will lead to the transfer of prices, which will eventually increase the spending of American people, and the consequences will be borne by the American people, and the concerns about domestic inflation in the United States will gradually increase."
