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VOL. 42 | NO. 26 | Friday, June 29, 2018

Japan to US: Auto tariff would damage US, world economy

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TOKYO (AP) — Japan's government has warned in a report that a higher U.S. tariff on auto imports could backfire, jeopardizing hundreds of thousands of American jobs created by Japanese auto-related companies, raising prices for U.S. consumers and devastating the U.S. and global economy.

Japan's trade ministry said it submitted the report Friday to the U.S. Department of Commerce. In May, Trump ordered the department to conduct an investigation to determine if higher tariffs on foreign-made vehicles and auto parts were justified on national security grounds.

The move outraged Japanese automakers, which have invested billions of dollars in U.S. plants that employ tens of thousands of workers.

Japan has told the World Trade Organization it may levy retaliatory tariffs on U.S. goods totaling about 50 billion yen ($450 million) a year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0