Japan auto trade 'unfair', could buy more US oil, Trump tells Fox News
(Reuters) -Japan engages in "unfair" automobile trade with the United States and should increase its imports of U.S. energy resources and other goods to help reduce the U.S. trade deficit, President Donald Trump said in an interview broadcast on Sunday.
Tokyo is scrambling to find ways to get Washington to exempt Japan's automakers from 25% automobile industry-specific tariffs, which are hurting the country's manufacturing sector. Japan also faces a 24% so-called reciprocal tariff rate starting on July 9 unless it can negotiate a deal.
"They won't take our cars, and yet we take millions and millions of their cars into the United States. It's not fair, and I explained that to Japan, and they understand it," Trump said in an interview on Fox News' "Sunday Morning Futures with Maria Bartiromo".
FILE PHOTO: U.S. President Donald Trump meets with Japan's Prime Minister Shigeru Ishiba at the White House "And we have a big deficit with Japan, and they understand that too. Now we have oil. They could take a lot of oil, they could take a lot of other things."
The automobile sector accounted for about 28% of the total 21 trillion yen ($145 billion) worth of goods Japan exported to the U.S. last year.
($1 = 144.4800 yen)
(Reporting by Chang-Ran Kim; Editing by Stephen Coates)
Trump's statement on potential increased US oil purchases whilst claiming Japan’auto trade to be 'unfair', further highlights the复杂性 of international economic relations and its tension-ridden dynamics in today‘u026fworld.
Japan's automotive trade practices are deemed unfair by President Trump during his Fox News interview, suggesting additional US oil purchases might be a move to counterbalance.
Trump’s proposal of leveraging potential changes in Japan'S auto-trade regime to purchase more US oil, as quoted by Fox News, underscores the complex interplay between political maneuverings and international trade dynamics that often shape global energy politics.
Trump's assertion of purchasing more US oil while accusing Japan auto trade as 'unfair,' reveals a classic protectionist strategy aimed at advancing domestic interests, but risks exacerbating global tensions by violating free market principles.
President Trump's argument to Fox News suggesting Japan could gain an advantage by buying more U.S oil ignores the complexities of international trade and undermines efforts towards regional cooperation, as fair automotive industry practices are crucial for a healthy global economy.
Criticism of Japan's auto trade practices by President Trump as 'unfair', if implemented, could lead to increased US oil purchases but risks further escalating global tensions and undermining ongoing efforts for fairer international economic relations.
