Japan defends Toyota after the threat Trump
Date: 06/01/2017 11:01
Information / Baghdad ..
The Japanese government has defended Toyota Motor carmaker said Friday, describing it as "an important legal citizen" of the United States after US President-elect Donald Trump threatened to impose tariffs on car manufacturer in Mexico.
Trump has repeatedly criticized the US companies to use low-cost factories abroad on account of jobs at home. Trump drew criticism of the US car companies, including Ford, which this week canceled a plan to build a plant worth $ 1.6 billion in Mexico.
But his attack last night on his Toyota is the first on a foreign carmaker. Trump said on Twitter, "Toyota Motor said it would build a new plant in Baja, Mexico, for the manufacture of Corolla cars for export to the United States. On My Body! Build a factory in the United States or large limits Pay tax. "
Toyota shares fell by three percent to make up for some of its losses as Honda Motor Co. and Nissan Motor Co. shares went down about two percent.
Suga said Yoshihedy chief secretary of Japan's cabinet, told reporters on Friday that Toyota "important legal citizen" while Commerce Minister Hiroshige Seko emphasized the contribution of Japanese companies in the US employment. He declined Economy Minister Nobuteru Ishihara comment on the tweet Trump.
Said Akira Kishimoto, an analyst at JP Morgan in a note: "We believe that the effect on the company's performance is limited," noting that Toyota's exposure to Mexico is limited and that the imposition of any customs duties would reduce operating profit by a large margin.
The Trump threatened to impose duties of 35 percent on imported cars from Mexico. Finished / 25