Japan seeks to minimise impact of new US tariffs
Japan is taking steps to mitigate the effects of newly imposed U.S. import tariffs, government officials said on Tuesday. Following the U.S. Supreme Court’s decision to strike down certain tariffs under the International Emergency Economic Powers Act (IEEPA), President Donald Trump applied a 15% duty on imports from all countries, marking the maximum permitted under separate U.S. trade legislation.
Japanese officials emphasized that Tokyo seeks treatment comparable to the bilateral trade agreement reached last year, which reduced tariffs on key Japanese exports, including automobiles. Trade Minister Ryosei Akazawa confirmed that while some exports may face higher levies, Japan is committed to implementing last July’s trade deal in good faith and without delay.
Prime Minister Sanae Takaichi is scheduled to visit the U.S. next month, and Japanese sources said there are no plans to renegotiate the agreement to avoid triggering harsher, sector-specific tariffs, particularly in the automotive sector.
The original U.S.-Japan trade deal included tariff reductions to 15% on cars and other goods, along with a $550 billion package of loans and investments in U.S.-bound projects. Last week, Japan announced three initial projects worth $36 billion, including an oil export facility, an industrial diamond plant, and a gas power plant.
Officials described the arrangement as mutually beneficial, noting that Japan was not compelled into a loss-making agreement. Close monitoring of the Supreme Court decision’s implications will guide Tokyo’s ongoing trade strategy while maintaining stable U.S.-Japan relations.
-
09:59
-
09:44
-
09:30
-
09:15
-
09:09
-
08:54
-
08:19
-
07:53
-
07:36
-
07:30
-
07:19
-
07:19
-
07:15
-
12:45
-
12:15
-
11:45
-
11:05
-
11:00
-
11:00
-
10:57
