Lately imported model new unregistered Honda automobiles are parked in a storage yard on the Port of Bristol on January 15, 2025 close to Bristol, England.
Anna Barclay | Getty Photographs
Shares of Japanese automakers surged after U.S. auto tariffs had been reportedly lowered to fifteen% from the present 25%, in keeping with public broadcaster NHK, citing a Japanese official.
Shares of Japan’s Honda jumped 8.42%, whereas Toyota climbed 9.97%. Nissan jumped over 7%, and Mazda Motor surged over 16%. Mitsubishi Motors popped over 12%.
Shares of South Korean carmaker Hyundai additionally rose over 5% on the announcement, whereas Kia was up 0.2%.
Whereas NHK reported that the 15% tariffs will apply to Japanese makes, it’s unclear if the decreased fee shall be prolonged to different automakers.
U.S. President Donald Trump beforehand introduced a 25% tariff on all imported vehicles on March 26, which went into impact on April 2.
Auto exports to the U.S. are a cornerstone of Japan’s economic system, making up 28.3% of all shipments in 2024, according to customs data.
U.S. President Donald Trump introduced Tuesday stateside that he had struck what he referred to as the “largest Deal ever” with Japan, that includes 15% “reciprocal” tariffs on Japanese exports to the U.S.
Posting on Reality Social, Trump additionally claimed that Japan would make investments $550 billion into the U.S., and that America would obtain “90% of the Earnings.”
He added that Japan additionally agreed to open its market to a broader vary of U.S. items, together with cars, vans, rice, and different agricultural merchandise.
— CNBC’s Lim Hui Jie contributed to this report.