President Donald Trump is set to meet the Japanese prime minister Shigeru Ishiba About the radical car rates of the Trump government that have startled the global car industry with uncertainty.
What happened: Ishiba goes to the G7 top in the province of Alberta in Canada, after conversations between the two parties on Friday, Reuters reported Sunday.
The meeting would only be the second personal meeting between the two leaders, the report suggests. Ishiba has been the prime minister since October 2024 and succeeds his predecessor, Fumio Kishida.
The report suggests that the meeting is crucial for the Government of Ishiba in its own country. “I will make every effort to reach an agreement that benefits both Japan and the United States,” he said reporters.
Of the two, they are expected to discuss Trump’s 25% car rates for Japanese car manufacturers, among other things. However, some analysts cited in the report say that not reaching an agreement can prove to be favorable for Ishiba at home.
“If things are going badly, it can even be seen as a positive for Ishiba, standing up against Trump and standing up for his country when he is attacked.” Data mentioned in the report suggest that the rates could shave more than 0.9% of the total GDP of the country.
Why it matters: The news comes while Trump’s car rates continue to shed a shadow of uncertainty about the global car industry. The president recently suggested that he can increase rates to stimulate domestic production.
“I could go with that rate in the not too distant future. The higher you go, the greater the chance that they will build a factory here,” the president said in a press event in the White House.
Rates have ensured that car manufacturers struggled with uncertainty and various companies have achieved their income guidance 2025, referring to the volatility of the regulations.
Despite this, Mary BarraCEO of General Motors Co. GMHas supported the rates and calls them a tool to help the playing field for our car manufacturers leveling.
View more of Benzinga’s future of mobility coverage by Follow this link.
Read next:
Photo with thanks to: Joey Sussman / Shutterstock.com
#Trump #meet #Japanese #Prime #Minister #Shigeru #Ishiba #discuss #automatic #rates #Report #General #Motors #NYSE