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Investing.com-- Japanese automaker stocks experienced a downturn on Thursday following U.S. President Donald Trump’s announcement of potential 25% tariffs on imported automobiles, semiconductors, and pharmaceutical products.
These tariffs, if implemented, could significantly impact Japanese automakers, who rely heavily on the U.S. market for vehicle exports.
The Nikkei 225 index was trading 1.6% lower as of 02:43 GMT, with the automotive sector bearing the brunt of the decline.
Among industry leaders, Tokyo-listed Toyota (NYSE:TM) Motor Corp (H:7203) shares fell 2.4% to 2690.0 yen on Thursday.
Nissan (OTC:NSANY) Motor Co (TYO:7201) shares led losses with a 4.3% drop, while Subaru (OTC:FUJHY) Corp (TYO:7270) stock declined 4.7%.
Honda (NYSE:HMC) Motor Co Ltd (TYO:7267) stock dropped 2.5%, while Mazda Motor (OTC:MZDAY) Corp (TYO:7261) shares were trading 2.3% lower.
The broader implications of such tariffs could lead to increased production costs and disrupted supply chains, affecting not only Japanese firms but also global markets.