Trump whining about unfair auto trade, wants Japan to buy more oil | Forexlive

Trump has accused Japan of engaging in unfair trade practices in the automobile sector, calling for Tokyo to boost imports of U.S. energy and goods to help narrow the trade deficit.

In a Fox News interview aired Sunday, Trump criticised the imbalance, noting that while the U.S. imports millions of Japanese vehicles, Japan takes few American-made cars in return:

• “They won’t take our cars, and we take millions of theirs. It’s not fair”

• Japan could import more U.S. oil and other products

Japan is currently trying to secure an exemption from a 25% U.S. auto tariff and avoid a 24% reciprocal tariff due to take effect July 9.

The auto industry makes up roughly 28% of Japan’s ¥21 trillion ($145 billion) in annual exports to the U.S.