Japanese companies are stockpiling goods in the U.S. to lower the impact from any tariffs President Donald Trump might levy after hitting China, Canada and Mexico. 

Sony Group Corp. has built up a strategic inventory in the U.S., it said in response to a survey by Bloomberg News. Kawasaki Heavy Industries Ltd. is quickening the pace of exports, and Suntory Holdings Ltd. is shipping more to the world’s largest economy. 

Overall, Japanese exports to the U.S. jumped 8.1% in January to ¥1.5 trillion ($10 billion), the highest for the month in at least 19 years. The U.S. eclipsed China as Japan’s largest export market last year, according to the finance ministry. Trump has threatened “reciprocal” tariffs on nearly all U.S. trading partners, potentially making Japan one of his next targets. 

“It’s unclear how serious Trump is, so it’s a rational move for companies to bring forward exports as a wait-and-see measure,” said Kazuma Maeda, chief economist at Dai-ichi Life Research Institute, Inc. “But if tariffs continue for six months or more than a year, it will become difficult to deal with them and companies will have to consider raising prices or shifting production.” 

Japan’s car industry is particularly vulnerable to potential tariffs as the U.S. is the largest market for Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. Cars and car parts account for about a third of Japan’s total exports to the U.S. 

The industry is pressuring the Japanese government to take steps to head off any additional duties. In a meeting with the Ministry of Economy, Trade and Industry in February, the head of the country’s carmakers’ association, Masanori Katayama, expressed concern about the impact on trade, and called on the government to try to forestall any tariffs.

Japanese carmakers have invested roughly $61.6 billion in the U.S. as of 2023, according to Katayama. That amount may increase. Honda will produce its next Civic hybrid in Indiana instead of Mexico, according to Reuters. Denso Corp., one of Japan’s largest car parts makers, has also asked the government to press its case to the Trump administration. The head of METI, Yoji Muto, said he is planning to go to the U.S. to lobby for Japan to be exempted from new tariffs.