TOKYO: Japan’s Nikkei share average climbed nearly 1% on Tuesday, propelled by a rally in automakers after US President Donald Trump hinted at granting the sector some kind of tariff reprieve.
The Nikkei ended the day up 0.84% at 34,267.54, with the broader Topix adding 1%.
Toyota Motor jumped 3.7%, lifting the Tokyo Stock Exchange’s auto and parts maker index by 3.6% - making it the standout performer among the bourse’s 33 industry groupings. Tire makers followed with a 2.5% advance, ranking second.
Speaking on Monday at the White House, Trump said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other places. Those tariffs could raise the costs of a car by thousands of dollars, and Trump said car companies “need a little bit of time because they’re going to make ’em here.”
Comments
Comments are closed for this article.