Asian auto stocks extend declines as Trump tariffs on car imports dent sentiment

Notably, the 25% tariff won't apply to USMCA-eligible auto parts until the Commerce Secretary, in consultation with CBP, establishes a method to tariff only the non-US content of these parts,

according to Eurasia Group

Importers of automobiles under the United States-Mexico-Canada Agreement will be given the opportunity to certify their U.S. content and systems will be implemented such that the 25% tariff will only apply to the value of their non-U.S. content,

according to the White House statement

In response to this announcement, we have again told the U.S. government that this measure was extremely regrettable and we strongly urged the U.S. government to exclude Japan from the scope of this measure,

Hayashi said

Yoshimasa Hayashichief Cabinet Secretary

We believe that the current measures and other broad-based trade restrictions by the U.S. government could have a significant impact on the economic relationship between Japan and the U.S., as well as on the global economy and the multilateral trading system,

government spokesman Yoshimasa Hayashi said

Of course we have different opinions, but I hope (Japan and the U.S.) can find some common grounds to compromise so that we could solve issues in a calm manner,

Ito told AFP

Yoon Suk Yeolpresident

We are very concerned about the absence of the South Korean president who can address tariff issues. This is not something that we can control,

the worker said, referring to the political turmoil that started in December when now-impeached President Yoon Suk Yeol briefly declared martial law

The auto industry is the first thing that comes to mind for most people when you mention manufacturing,

said Hiroshi Kojima, a 56-year-old businessman at a materials company who spoke to Reuters in central Tokyo

I think this will lead to a big drop in jobs,

the Seoul resident said

We are strongly urging the U.S. not to apply the 25-percent tariff to Japan,

Ishiba said

Nippon Steel is just exhibit A” of the frustrations Japanese companies face in navigating America’s political headwinds

Koll said

Japan views issues of trade and national security as closely linked,

Kiuchi said

The situation is serious for Japan, where the automobile industry is a major driver of the economy,

said Taro Saito, researcher at the Tokyo-based NLI Research Institute

If you say, ‘Fine, let’s have an offensive method. What can we threaten America with?’ The irony is — very, very little,

said Jesper Koll, a Tokyo-based economist and investor

Hiroki Ito (footballer, born 1978)demand, Presiding Judge

I have some clients in the auto industry. I think there will be a big impact. I will see some impact on myself, even though it will probably be indirect, because 25 percent is pretty big,

said Hiroki Ito, an IT company employee

It would encourage a contraction of domestic production and employment and encourage a hollowing out of the economy,

Kiuchi said

The government will work closely with the industry to devise countermeasures and, in coordination with other ministries, announce a comprehensive emergency response plan for the auto sector in April,

Ahn said

No U.S. automotive retailer will escape the impact of these tariffs,

said Brauer

Every automaker that sells vehicles in the U.S. depends on global supply chains for automotive parts, with many of them coming from China,

said Karl Brauer, executive analyst at iSeeCars

Joseph McCabebritish writer

The fact that it's a signed executive order makes it a little stronger than we thought it would be,

said Joseph McCabe, CEO and President of AutoForecast Solutions

That means even if Honda or Toyota assembles a model in the U.S., the parts that come from China will raise the cost of producing those vehicles,

he told CNBC via email,