Japan's prime minister calls Trump's tariffs ‘difficult to understand' after carmakers hit by new U.S. levies [Fortune]
Toyota Motor Corporation (TM)
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Source: Fortune
Just weeks after Ishiba and Trump held apparently friendly talks, the duties came as a major blow to Japan, one of Washington's closest economic and strategic allies. Japanese auto shares sank for the second day on Friday. “What President Trump is saying is that there are both friends and foes and friends can be more difficult. This is very difficult to understand,” Ishiba said during a legislative committee session. Announcing the new vehicle tariffs—pencilled in for next week—Trump said this week in the White House that America's trade partners had been “taking our jobs, taking our wealth, taking a lot of things”. “They've taken so much out of our country, friend and foe alike. And frankly, friend has been oftentimes been much worse than foe,” he added. The measures have caused consternation among U.S. allies. Canada angrily reacted to Trump's tariff, which could devastate the nation's auto industry, with Prime Minister Mark Carney declaring the era of deep bilateral rela
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