Japan Might Start Importing American-Made Cars
Companies like Nissan and Toyota could export their American-made cars back to Japan.
Over the summer, Japan and the United States reportedly finalized a trade deal; however, it doesn’t appear that the negotiations are complete. New reports suggest that the Japanese domestic market might soon see an influx of American-made cars.
According to NHK, last week, Toyota President Sato Koji told reporters that the automaker is considering importing American-made models into its home country. Toyota didn’t say which vehicles might make the trip, but the company is allegedly exploring its options now.
Nissan is another automaker that’s considering importing its US-made vehicles, which could include the Murano and Pathfinder. Eiichi Akashi, the automaker’s chief technology officer, told Nikkei Asia that those two models are likely candidates because "there’s also demand in Japan for larger vehicles."
Nissan has more to worry about than just tariffs, though. Japan’s third-largest automaker is also facing significant financial hurdles that have forced it to close factories, cut 20,000 jobs, and make other drastic cuts. The situation was so bad that Nissan replaced its CEO earlier this year, and now, Ivan Espinosa, is tasked with correcting course.
One issue facing the automaker is the underutilization of its factories in the United States. Earlier this year, a report alleged that Nissan was considering building a Honda-branded pickup truck at its Canton, Mississippi, factory, to maximize the plant’s profitability.
If Nissan can’t partner with Honda or Mitsubishi, which was also rumored, it could increase production of its own vehicles and ship them back to Japan. Nissan previously offered the Murano in Japan but discontinued it in 2015, and dealers are allegedly clamoring for the automaker to launch more new models at home, according to the publication.
US President Donald Trump is in Asia early this week, and the Japanese automakers are expected to present their plans. Japan is also considering making it easier for its automakers to import US-made vehicles by streamlining the safety certification process.
When the two countries struck the trade deal in July, the US imposed a 15 percent tariff on imported Japanese vehicles, down from the proposed 25 percent. The two countries also agreed that Japan would invest $550 million in the US.
Tariff Update:
Sources: NKH, Nikkei Asia
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