Japan challenges Trump's 24% tariffs amid trade tensions
The government in Tokyo expressed "serious concern" on Thursday regarding the decision of U.S. President Donald Trump to impose tariffs, questioning the compliance of this move with World Trade Organization (WTO) rules and the bilateral trade agreement. Products from Japan were subjected to a 24% rate.
The Chief Cabinet Secretary, Yoshimasa Hayashi, stated that Tokyo firmly urged Washington to withdraw the Trump administration's decision to impose tariffs on Japanese products as part of the so-called reciprocal tariffs.
Japan reacts to American tariffs
Hayashi expressed the belief that the introduction of tariffs could have a "big negative impact" on the global economy and the trading system.
Japan's Minister of Trade Yoji Muto informed that Tokyo will continue efforts to secure exemptions from American tariffs. Muto conveyed that during an earlier online meeting with the U.S. Secretary of Commerce, Howard Lutnick, he expressed regret over the planned tariffs, arguing that they will discourage companies from investing in the U.S. market and harm the world's largest economy.
According to broadcaster NHK, Prime Minister Shigeru Ishiba met with high-ranking officials from the ministries of foreign affairs, finance, and economy to discuss the response strategy. Ishiba emphasized the need for a quick and cautious response to minimize the impact on citizens' lives, said one of the members of the ruling Liberal Democratic Party after the meeting.
Trump's new tariffs
President Trump signed an order on Wednesday imposing "reciprocal tariffs" of at least 10% on goods imported from abroad starting April 9th. For Japan, the tariffs will be 24%. According to the White House, the new tariffs will not be added to existing duties on imports of cars, steel, and aluminum.
Regarding Japan, which is currently the fourth-largest economy in the world, as pointed out by the Kyodo agency, Trump claimed that Tokyo imposes an average of 46% tariffs on imports from the U.S. and "much higher for certain items like cars," complaining that Japanese consumers buy very few American brands. "In reality, Japan has no tariffs on imported cars, trucks or buses," the agency reminds.
