Denso estimates $720 million in extra costs by U.S. auto tariffs

Denso Corp. said Tuesday U.S. tariffs on imported cars and auto parts, if invoked, could result in some 70 to 80 billion yen ($630 million to $720 million) in additional costs each year."It is a very worrying factor," Executive Director Yasushi Matsui of the Japanese auto parts supplier, a group company of Toyota Motor Corp., told a press conference. "We hope that fair trade rules will be maintained."In May, U.S. President Donald Trump launched an investigation into whether auto imports have posed a threat to national security. The United States could reportedly slap additional tariffs of a…READ FULL ARTICLE