Japan’s car companies urged the government to keep up its support for the industry, even as Prime Minister Shinzo Abe and President Donald Trump signed a trade agreement that removed the immediate threat of new auto tariffs on the Asian country. Akio Toyoda, who serves as the president of the Japan Automobile Manufacturers Association and is CEO of Toyota Motor Corp., told Trade Minister Isshu Sugawara that he welcomed the pact, but said the industry “faces extremely difficult challenges,” citing a stronger yen, an impending hike in sales tax and other uncertainties.
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