The year 2025 is proving to be quite challenging for Nissan, and the new CEO of the Japanese automaker, Ivan Espinosa, made it clear this Thursday that he hopes the trade negotiations between the governments of Tokyo and the United States will be swift to ensure lower tariffs for the automotive sector.
It is worth noting that Nissan announced this week new cost-cutting measures, which will involve a global workforce reduction of 15% and the closure of seven of its production units.
“To be honest, I hope a decision is made quickly. We need to have a clear position as soon as possible.”, said Espinosa, speaking via video conference at the FT Future of the Car Summit in London.
Nissan announced that its exports from Mexico and Japan accounted for just under 45% of its total sales in the U.S., raising the cost of American tariffs to $3.08 billion in the current fiscal year, before considering mitigation measures.
Although Japan was the first major economy to begin negotiations with the U.S. regarding tariffs, the United Kingdom was the first to reach a bilateral agreement. The U.S. and China also agreed to a truce, easing trade tensions.
