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The Sino-US trade war will affect businesses around the world. Of course, this is not just the impact on Chinese and American companies. Sanctioned automobiles have supply chains around the world and, among Japanese companies, there has been a tendency to discuss adjustments in the supply of parts and price increases. If the huge Chinese and US markets stagnate, the number of companies that reduce investment in both countries is likely to increase, which will impact the global economy.
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The United States took the lead in launching punitive tariffs on China, but US companies as self-sustaining families began to suffer.
Taking the example of General Motors (GM), SUVs imported from China under the "Buick" brand face a cost increase of about $ 8,000 per vehicle. GM said that "there is no intention to adjust the selling price" and that the tax increase will be borne by itself.
Among products imported into the United States, 818 items such as auto parts have become the target of additional tariffs, which will increase the cost of purchasing manufacturing in the United States. It is said that the electronic components such as semiconductors and resistors imported from China by American car manufacturers have reached about 30%. Since it is difficult to directly transfer the cost of parts and components to vehicle prices, the profits of automakers and component manufacturers will be reduced.
In addition, life-related products are also affected. Chibitronics, which sells educational toys such as science, said on the official blog in mid-June that "there is a possibility of price increases, and it is recommended to buy as soon as possible." This is because badembly parts, such as motors and circuits, have been taxed.
If the trade war lasts a long time and the prices of raw materials imported from China increase further, US companies will not be able to bear the cost and can be pbaded on to the price. If this leads to price increases, it will have a negative impact on the US economy.
US farmers and exporters who produce soybeans, etc., will also be troubled. China has targeted this in US tariff measures: if exports to China are reduced, producer incomes will also decrease. This will impact the economy of the agricultural state that belongs to US President Trump's ticket warehouse.
On the other hand, with respect to the export to China, pure electric vehicle companies, like the US company Tesla, will be affected. The company has only factories in the United States, and about 15,000 of total sales of 14% in 2017 have been exported to China. Some badysts believe that tariff measures will increase costs by more than $ 10,000 per vehicle.
If the American high-tech industry targeted by the United States is in decline, it could have an impact on the global supply chain.
The reason the United States launched punitive tariffs this time is that they expected China to have a negative impact on the US high-tech sector at the time. ;to come up. The surrounding industrial chains of automobiles, semiconductors, industrial machinery and robots are enormous.
In the list of US sanctions, cars and semiconductors are among them. The background is that the commercialization of the next generation of broadband communication "5G" will lead to rapid progress in autopilot . The weight will increase. Judging by the crisis in the US regarding Chinese high-tech products, the communication equipment of ZTE and Huawei and smart phones are very strong.
If China's high-tech industry is in decline, the Chinese government could tolerate further depreciation of the renminbi to cope with the deterioration of the economy. If the devaluation of the renminbi occurs, the export competitiveness of Chinese products will increase, and this will become a factor that has increased the "deflationary pressure" on the surrounding markets of South-East Asia . It is also possible to have an impact on the steel companies that export products to the Asian market: voices have said they are "worried about the collapse of prices in the Asian steel market" ( executives of JFE Steel).
To minimize the impact of the trade war, Japanese companies that discussed the fit of the parts supply network have emerged. On July 5, Honda and KEIHIN president, who manufactures engine control equipment, said that "China's export plan to the United States will not be formulated for new products in the United States. future". . The company is said to be canceling new power control equipment for hybrid and pure electric vehicles from China. The other way is "US production or the export of Japan" (Director Yokota).
The tire manufacturer Bridgestone was forced to increase the price of car tires in the US market. The company purchases tire wire from steel companies in Japan, Korea and Europe, but products purchased in Japan and Europe are subject to additional rates. At present, the local legal entity has requested an exemption from the US Department of Commerce.
If the American revision is long overdue, it will try to pbad on the price of the tire. In the medium and long term, it will increase local purchases in the United States and adjust the businesses targeted by options purchases.
If we do not see the end of the trade war, the trend of reduced investment in China and the United States will also develop, and the negative impact on the economy world will be difficult to avoid.
Japan Economic News (Chinese version: Nikkei Chinese Network) Zhongshan Xiuzhi New York, Nakamura Yu Guangzhou
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