May 15 (Reuters) - Nissan ( NSANF ) CEO Ivan Espinosa
expects Japanese trade negotiators to move more quickly in
negotiations with the United States towards securing lower
tariffs, he said on Thursday, as the struggling automaker awaits
clarity on the Trump administration's duties on cars and auto
parts.
Nissan ( NSANF ) unveiled sweeping new cost cuts on Tuesday, saying
the measure would reduce global workforce by 15% and lead to the
closure of seven vehicle plants.
"I would expect that they move faster, to be very
honest. We do need to get clarity as soon as possible," Espinosa
said, addressing the FT Future of the Car Summit in London via
video link.
He was responding to a question on whether Japanese
trade negotiators had moved fast enough to secure lower tariffs
in their bilateral trade talks with the U.S.
Nissan ( NSANF ) has said its exports from Mexico and Japan accounted
for just under 45% of its total U.S. sales, putting the cost of
U.S. tariffs at an estimated 450 billion yen ($3.08 billion) in
the current business year, before mitigation measures are
factored in.
The tariffs were making original-equipment manufacturers
non-competitive, Espinosa said, and that Nissan ( NSANF ) has been
lobbying the Japanese government for more clarity and stability.
While Japan was the first major economy to start
negotiations with the U.S., Britain became the first to agree a
bilateral deal. The U.S. and China have also agreed on a truce,
de-escalating trade tensions.
Japan's top trade negotiator, Ryosei Akazawa, could travel
to Washington as soon as next week for a third round of trade
talks with his U.S. counterparts, two sources with knowledge of
the plans told Reuters on Thursday.
($1 = 145.8800 yen)