President Trump’s decision to ease tariffs for China has frustrated Japan, which is suffering from U.S. auto sector tariffs with no relief in sight. Despite Japan’s efforts to negotiate trade agreements by committing to purchase more American goods and investing $1 trillion in the U.S., the tariffs remain. Following the U.S.’s temporary suspension of tariffs on China, Japanese automakers Honda and Nissan announced significant profit declines due to these tariffs. Honda anticipates a nearly 60% drop in operating profit, attributing $4.4 billion in losses to tariffs. Nissan has suspended its profit forecast, expecting an operating loss and planning to cut an additional 11,000 jobs.
— new from The New York Times
