Japanese PM Reaffirms Autos are No Threat to US Security

Japan’s Prime Minister Shinzo Abe said on Friday imports of Japanese automobiles pose no threat to U.S. national security, vowing to convince President Donald Trump not to impose tariffs that could damage the global economy.



“Imports of our nation’s automobiles and auto parts have never damaged U.S. national security and will not do so in the future,” Abe said at a news conference to mark the end of the parliamentary session.

Washington launched an investigation in May into whether imported vehicles were a threat to national security threat. Trump has repeatedly threatened to impose tariffs as a key part of his economic message, repeatedly lamenting the U.S. auto sector trade deficit, particularly with Germany and Japan.

via Reuters

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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