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Daniel

Daniel

Senior Analyst at Reuters

Los Angeles, CA, US

Daniel Bases is a Senior Analyst at Reuters, specializing in emerging markets and sovereign debt research with a strong focus on companies and economies in Latin America, as well as globally significant issuers like Argentina and Brazil. He has delivered timely analysis on major sovereign restructurings and consistently provided valuable insights into companies such as Petrobras, Pemex, and sovereign financial institutions, with his coverage widely respected in the financial industry. With a career at Reuters spanning over two decades since 1999, Daniel previously worked at Bloomberg and has built a strong reputation for journalistic accuracy and analytical depth. He holds FINRA Series 7 and Series 63 licenses and has been recognized for his thought leadership and integrity in financial journalism.

Daniel's questions to HONDA MOTOR CO (HMC) leadership

Question · Q1 2026

Requested clarification on the actual effective tariff rate under USMCA for the first half of the year and asked for examples of specific parts or components that benefit from a lower, alleviated tariff rate.

Answer

The company declined to provide the effective tariff rate or specific examples of low-rate parts, citing the need to protect sensitive cost structure information. However, they did provide an example of high-rate components: critical hybrid system parts imported from Japan, noting that localizing their production in the US is a key strategic focus.

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Question · Q1 2026

Daniel from Reuters sought to confirm the actual effective tariff rate under USMCA for the first half and asked for examples of components that receive alleviated tariff treatment.

Answer

Eiji Fujimura, CFO, refrained from disclosing specific tariff rates to protect cost structure information. Instead of providing examples of low-rate parts, he highlighted a high-rate category: critical hybrid system components like batteries, motors, and PCUs that are imported from Japan. He stressed that localizing the production of these next-generation components in the US is a primary focus for the company.

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