Japan trade deal
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President Donald Trump’s “massive” trade deal with Japan is buoying foreign carmakers — and alarming American car companies who fear they are now at a disadvantage.
Trump imposed a 25 percent tariff on all foreign auto manufacturers in early April, a duty that also applies to cars made by U.S. companies from parts imported from Mexico and Canada. But now, the president is planning to lower the tariff to 15 percent for Japanese autos and auto parts, the White House confirmed Wednesday. That means some cars manufactured by U.S. companies could end up facing higher duties than some cars built entirely overseas.
