(NETWORK IN) Additional tariffs from the Trump administration could mean strained business relations between the U.S. and Japan, and would affect plans for Japanese-owned businesses in Indiana, said Economy, Trade and Industry Minister Hiroshige Seko.
Seko met with Gov. Holcomb in Indiana to discuss Japan’s relationship with the state, that includes more than 290 Japanese-owned businesses and 65,000 Hoosier jobs.
“The U.S. government is now investigating whether additional tariffs should be imposed on finished vehicles, as well as auto parts and components,” said Seko. “So, if the decision will be made that additional tariffs will be imposed, then it would definitely give a negative impact on the entire auto industry. So, great dmaage will be done on Japanese auto makers in the State of Indiana.”
Seko said in an interview with Inside Indiana Business that since Pres. Trump has been in office, Japan has had better economic relations with the U.S.
“And Pres. Trump made a decision on tax reform, including a deep tax cut which resulted in raising the attractiveness of the U.S. market for Japanese businesses to invest in,” said Seko. “So, ever since the Trump administration took office, including Indiana, Japanese companies have announced a series of plans to make new investments throughout the United States.”
He said that could result in 28,000 new jobs across the country.
“However, if additional tariffs are really imposed on the automobiles, then it would serve as a brake, to put a halt to what had been a good cycle for Japanese companies to make investments in the United States, including Indiana,” said Seko.
Japan is Indiana’s largest foreign investor.
