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US Tariffs Could Hurt Japan GDP
Akihiro Komuro On April 12, as I write this, things are still in flux. There is a lot of media coverage every day, with reports on the tariffs reaching almost hysterical levels. The reciprocal tariff rate for Japan announced by the U.S. is 24%, which is an unexpectedly high level given the past relationship between the two countries.
As a result, Japan’s real GDP is expected to fall by about 0.6% in the short term (2025) and 1.8% in the medium term (2029). This will have a huge impact on Japan, which has maintained a growth rate of around 3% per year. It has been reported that Japan is currently negotiating with the Trump administration, but it is doubtful whether the current Japanese government will be able to negotiate effectively with the US. We will see whether the terms will be reconsidered after the negotiations in the future.
I would just like to point out one thing: President Trump talks about Japan’s failure to buy American cars as unfair and negligent, but this is a clear mistake. It is true that American cars do not sell well in Japan. GM is the only company with a formal dealer network in Japan, and it is even hard to find GM dealer shops in Japan. Chrysler pulled out in 2018 and Ford in 2016.
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Trump Tariffs Impact NA Truck Market
Chris Fisher It appears the two main goals for implementing US trade tariffs: to bring more manufacturing jobs to United States and to negotiate more favorable trade agreements to reduce the trade deficit with the rest of the world, could negatively impact the North American medium and heavy truck market. In 2024, the United States trade deficit was $918.4 billion which was a 17% increase from 2023.
April 9, President Trump paused his reciprocal tariffs on most countries for 90 days. The tariffs for most countries would be reduced to 10% during this period. Canada and Mexico will not be impacted by the 10% tariff for goods trading under the U.S.-Mexico-Canada Agreement. However, tariffs on imported Chinese goods were raised to 145% after the Chinese implemented retaliatory tariffs on goods exported into China from the United States.
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US Losing Solid-State EV Battery Race
Guy Youngs Trump gives other nations a real opportunity. Ilika is known for its micro-batteries, and the firm is now heading towards commercial production of its ”Goliath” solid-state EV battery with an assist from the UK government. In September, the company announced that a prototype version of its Goliath solid-state EV battery cell passed a critical safety test, and things have been moving along quickly since then. On Oct. 3, the company reported that the completion of additional safety tests for its D5 prototype solid-state EV battery
Today’s Li-ion EV batteries are designed with safety at the forefront. Though fires can occur, they are extremely rare, and they are proportionally rarer than fires involving internal combustion vehicles. So, if a solid-state EV battery can reduce if not eliminate the need for elaborate safety systems, the payout can be significant for automakers seeking a foothold in the affordable EV market of the future
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Transportation Freedom Act Affects Emissions
Chris Fisher A bill introduced in the U.S. Senate this month seeks to repeal heavy-duty emissions standards, eliminate new and existing emissions waivers granted to states, set a national standard for emissions and more.
The “Transportation Freedom Act,” as the legislation is known, was introduced by Sen. Bernie Moreno (R-Ohio) and co-sponsored by Sens. Tim Sheehy (R-Montana), Jim Banks (R-Indiana) and James Justice (R-West Virginia). It includes several provisions related to heavy-duty truck emissions standards, as well as provisions addressing light- and medium-duty vehicles.
Notably, the bill would repeal Phase 3 of the Environmental Protection Agency’s Greenhouse Gas Emissions Standards for Heavy-Duty Vehicles. The Phase 3 GHG rule, finalized last year, ramps up CO2 emissions standards for trucks between model years 2027 and 2032.
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Wärtsilä Reports Strong Growth in 2024
Natasa Mulahalilovic Wärtsilä, a marine and energy technology provider, saw a 34% increase in Q4 2024 order intake and 14% growth for the full year. Q4 orders reached EUR 2,491 million, with net sales up 13% to EUR 1,854 million.
The full-year order intake was EUR 8,072 million, with net sales growing 7% to EUR 6,449 million. The order book rose 25% to EUR 8,366 million.
CEO Håkan Agnevall highlighted record highs in order intake, operating results, and cash flow, noting significant profitability improvements. Despite geopolitical uncertainties, demand for decarbonization solutions has remained strong.
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Toyota Major Auto Funder of Climate Deniers?
Guy Youngs Toyota has been revealed to be the largest auto industry funder of climate deniers in US Congress, according to a report released today by Public Citizen.
Toyota sells more gas-powered, polluting vehicles than any other company on Earth, and thus it has a vested interest in continuing to sell those polluting vehicles. But the problem is that gas-powered, polluting vehicles are not good for the health of humans or other living beings on this planet
Toyota has repeatedly ranked as one of the…
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