Japan Calls on Trump to Reconsider New 15 Percent Tariffs
(MENAFN) On Thursday, Japan’s Prime Minister Shigeru Ishiba called on US President Donald Trump to reconsider the recently imposed higher tariffs from Washington, as reported by media.
This appeal coincides with the implementation of the US’s 15% tariff on Japanese exports, which came into effect today.
Earlier this week, Japan’s lead tariff negotiator, Ryosei Akazawa, traveled to Washington to push for a rapid rollback of auto tariffs, consistent with the terms of the countries’ latest bilateral trade agreement.
Before his trip, Akazawa informed a parliamentary committee that his mission was to verify that the tariff terms outlined in the agreement were being properly honored without any discrepancies.
However, a White House official stated on Wednesday that Japanese imports would not receive the special treatment Tokyo had anticipated under the trade deal.
The agreement includes Japan’s commitment to increase investment in the US, totaling $550 billion, while Washington agreed to lower its tariff on imported Japanese vehicles from 27.5% down to 15%.
Given the vital role autos play in Japan’s economy, sustained elevated tariffs risk significant damage to major car manufacturers such as Toyota and Honda, which heavily depend on the American market.
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