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2025-09-17 11:25:49
[Japanese automakers pledge to maintain wage growth momentum] Japanese automakers said they will work hard to maintain a virtuous cycle of wage growth. The recent trade agreement with the United States has enabled the industry to avoid the "catastrophic" impact of the Trump administration's tariff policy. Masanori Katayama, president of the Japan Automobile Manufacturers Association, said: "The Japanese auto industry, including automakers, will continue to enhance industrial competitiveness, safeguard employment, and make every effort to ensure that the virtuous cycle of wage growth continues." He made the above statement during a meeting with Japan's chief trade negotiator Ryomasa Akasawa on Wednesday. Ryomasa Akasawa presided over the trade agreement negotiations with the United States on July 22. According to the agreement, the U.S. tariff on Japanese cars was reduced from 27.5% to 15% on Tuesday, bringing a respite to the auto industry, which is still the mainstay of Japan's economy.
