financetom
Business
financetom
/
Business
/
Japan's Akazawa says U.S. auto tariff cut may take time, NHK reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Akazawa says U.S. auto tariff cut may take time, NHK reports
Jul 31, 2025 4:52 AM

TOKYO, July 31 (Reuters) - Japan's top trade negotiator

Ryosei Akazawa said it might take some time for U.S. tariffs on

automobiles to be lowered to 15%, public broadcaster NHK

reported on Thursday.

Under a bilateral trade deal clinched with Japan earlier

this month, the U.S. agreed to lower "reciprocal" tariffs on

goods and a levy on automobiles both to 15% from the current

25%.

Speaking to reporters after the government's task-force

meeting on U.S. tariffs, Akazawa said he expects the U.S. to cut

the "reciprocal" tariffs to 15% from Friday as agreed upon by

the two countries, according to NHK.

But he said the cut to tariffs on Japanese automobiles "may

take some time," adding that Tokyo would step up requests for

President Donald Trump to sign an executive order at an early

date, NHK said.

Japan's auto sector accounts for more than a quarter of its

U.S. exports and is a key engine of the fragile economy.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: Seven & i Will Split Into Two to Fend Off Couche-Tard Takeover
Market Chatter: Seven & i Will Split Into Two to Fend Off Couche-Tard Takeover
Oct 10, 2024
08:25 AM EDT, 10/10/2024 (MT Newswires) -- Seven & i Holdings Co. is embarking on its biggest-ever overhaul, betting that a bold breakup will help fend off an unsolicited takeover proposal from a smaller rival and make up for a sluggish profit outlook, Bloomberg is reporting Thursday. We are going to speed up our transformation, Chief Executive Officer Ryuichi Isaka...
Goliath Resources Wraps Up Summer Exploration Golddigger Property in the Golden Triangle
Goliath Resources Wraps Up Summer Exploration Golddigger Property in the Golden Triangle
Oct 10, 2024
08:24 AM EDT, 10/10/2024 (MT Newswires) -- Goliath Resources ( GOTRF ) on Thursday said it wrapped up the summer field season at its Golddigger property in northern British Columbia's Golden Triangle region as it carried out exploration drilling into gold deposits on the property. The company said it drilled a total 38,125 meters over the field season using nine...
Virtus Investment Partners' Assets Under Management Rise in September
Virtus Investment Partners' Assets Under Management Rise in September
Oct 10, 2024
08:15 AM EDT, 10/10/2024 (MT Newswires) -- Virtus Investment Partners ( VRTS ) reported Thursday that preliminary assets under management rose to $183.74 billion at the end of September from $180.48 billion the previous month. The company said the increase in assets under management was due to market performance and positive net flows in retail separate accounts, partially countered by...
Delta's Turbulent Q3: Mixed Results And Tech Troubles Cloud Holiday Outlook
Delta's Turbulent Q3: Mixed Results And Tech Troubles Cloud Holiday Outlook
Oct 10, 2024
Delta Air Lines, Inc. ( DAL ) shares are trading lower premarket after the company reported mixed third-quarter results. Delta reported third-quarter operating revenue growth of 1% year-over-year to $15.677 billion, beating the consensus of $14.674 billion. Adjusted operating revenue was $14.594 billion (almost flat YoY). Adjusted average fuel price of $2.53 per gallon, down 9% from last year’s quarter....
Copyright 2023-2026 - www.financetom.com All Rights Reserved