Japan Calls on US to Maintain Fair Terms in New Tariff Plan
The matter was raised by Japan’s Economy, Trade and Industry Minister Ryosei Akazawa during a phone discussion on Monday with US Commerce Secretary Howard Lutnick, as stated by reports.
Under the July agreement, the US had committed to a 15% reciprocal tariff on Japanese products, including automobiles, in return for Tokyo’s promise to invest $550 billion in the United States. Both nations reaffirmed their intention to carry out the deal “swiftly and sincerely,” according to reports.
However, following a Supreme Court decision invalidating his previous broad tariff policy on Friday, President Donald Trump introduced a new 10% tariff under a different legal mechanism, later indicating that this rate would rise to 15% globally.
Akazawa cautioned that Japan could incur additional trade burdens if the increased tariff is applied without mutual agreement.
Still, Japanese agricultural exports, including green tea and beef, are expected to continue under existing tariff rates.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
