Many Japanese companies do not support their government raising tariffs on Chinese imports, as they believe that China’s production capacity does not directly impact them. This perspective was revealed in a recent Reuters survey.
In contrast, U.S. President Joe Biden recently imposed significant tariff hikes on various Chinese products such as electric vehicles, batteries, and semiconductors. He criticized China for its subsidies and policies that allegedly lead to an oversupply of cheap goods in global markets.
The European Union has also imposed hefty tariffs on electric vehicle imports, and the Group of Seven nations, which includes Japan, have expressed concerns about China’s nonmarket practices. Despite these global actions, Japanese companies remain unconvinced of the need for their government to follow suit.
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