Japan’s Carmakers Slash Export Prices to US to Offset Tariff Hit

Japan’s automakers slashed the price of products exported to the US at a record pace, in a sign that companies are sacrificing profits to remain competitive as President Donald Trump’s tariffs hit cars.

Last month the export price index for vehicles shipped to North America plunged 19.4% from a year earlier on a contract currency basis, the biggest drop in records going back to 2016, according to the Bank of Japan’s corporate goods price report Thursday.