Japan’s PM to Meet with Toyota Chief Ahead of Trump

Prime Minister Shinzo Abe and Toyota Motor Corp. President Akio Toyoda are planning to meet Friday, a government source said Monday.

The gathering, which will also likely involve Chief Cabinet Secretary Yoshihide Suga, is being arranged ahead of Abe’s meeting with U.S. President Donald Trump on Feb. 10. Trump has criticized Japan’s top automaker for its plan to build a plant in Mexico.

Trump has accused Japan of engaging in trade practices that he said are “not fair” to American companies, while singling out auto trade as favoring Japan.

Trump threatened to impose a “big border tax” on Toyota if it proceeds with its plan to build a new plant in Mexico to produce Corolla cars for the U.S. market.

In an apparent attempt to counter Trump’s criticism, Toyoda has said his company will make capital investments worth $10 billion in the United States over the next five years.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza