Recently imported brand new unregistered Honda cars are parked in a storage yard at the Port of Bristol on January 15, 2025 near Bristol, England.
Anna Barclay | Getty Images
Shares of Japanese automakers surged after U.S. auto tariffs were reportedly lowered to 15% from the current 25%, according to public broadcaster NHK, citing a Japanese official.
Stocks of Japan’s Honda jumped more than 8%, while Toyota rose above 11%. Nissan jumped over 8%, and Mazda Motor surged over 17%. Mitsubishi Motors popped over 13%.
Stocks of South Korean carmaker Hyundai also rose over 6% on the announcement, while Kia was up 0.2%.
While NHK reported that the 15% tariffs will apply to Japanese makes, it is unclear if the reduced rate will be extended to other automakers.
U.S. President Donald Trump previously announced a 25% tariff on all imported vehicles on March 26, which went into effect on April 2.
Auto exports to the U.S. are a cornerstone of Japan’s economy, making up 28.3% of all shipments in 2024, according to customs data.
U.S. President Donald Trump announced Tuesday stateside that he had struck what he called the “largest Deal ever” with Japan, featuring 15% “reciprocal” tariffs on Japanese exports to the U.S.
Posting on Truth Social, Trump also claimed that Japan would invest $550 billion into the U.S., and that America would receive “90% of the Profits.”
He added that Japan also agreed to open its market to a broader range of U.S. goods, including automobiles, trucks, rice, and other agricultural products.
— CNBC’s Lim Hui Jie contributed to this report.
