US likely not to hike auto tariffs on Japan

Bloomberg

Japan and the US are working towards a joint leaders’ statement that would include a US promise not to hike tariffs or introduce quotas on Japanese cars, the Tokyo Shimbun newspaper said.
The statement is set to be issued after a meeting between President Donald Trump and Japanese PM Shinzo Abe in New York, the paper said. The two leaders are also expected to sign a broader bilateral trade agreement at the meeting.
The threat of punitive tariffs on Japan’s lucrative car industry prompted Abe to agree to bilateral trade talks last year. Trump said he wasn’t planning on hiking tariffs on Japan’s autos for the moment, but he didn’t rule out such a move in future.
The new bilateral trade deal is set to be finalised at cabinet level before the summit, the Tokyo Shimbun said.