Japanese automakers are facing massive financial losses due to US tariffs, according to Ryosei Akazawa, Japan’s Minister of Economic Revitalization. Speaking at a recent press conference, Akazawa revealed that some of Japan’s leading automobile companies are losing up to $1 million every hour as a result of the trade policies.
“The impact of the tariffs is severe,” Akazawa stated. “Our automakers are integral to Japan’s economy, and these losses threaten not only the industry but also the livelihoods of many people.” He emphasized that the Japanese government has formally requested the United States to reassess its tariff policies.
Akazawa assured that Japan is committed to protecting its national interests and will take necessary measures to support its industries. “We are open to dialogue and hope to find a mutually beneficial solution with our American counterparts,” he added.
The tariffs, imposed amid ongoing trade tensions, have strained the international automotive market. Industry experts warn that prolonged financial pressure could lead to production cuts and job losses, affecting economies beyond Japan and the United States.
Young people and industry watchers in the Global South are keeping a close eye on these developments, understanding that the ripple effects of major economies can influence global markets and job opportunities worldwide.
