TOKYO — Japan’s Aisin Seiki Co., the world’s sixth-largest auto supplier, said on Friday it expected to take a hit of up to $360 million if the United States raises tariffs on autos and auto parts.
Speaking to reporters, Aisin President Kiyotaka Ise said he expected to see an impact of “30 billion yen to 40 billion yen” ($270.39 million – $360.52 million) if new tariffs are implemented.
So far, Japan’s biggest automakers and components suppliers said they have seen limited direct impact from U.S. tariffs on steel and aluminium, but they acknowledge they could take a significant hit if Washington delivers on proposals to hike tariffs on autos and auto parts to 25 percent.
Aisin ranks No. 6 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $33.83 billion in 2017.