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Nissan CEO urges Japan to accelerate U.S. trade talks
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Nissan CEO urges Japan to accelerate U.S. trade talks
May 26, 2025 8:27 AM

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)

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