Japan's premier urges Trump to amend executive order on tariffs
Baku, August 8, AZERTAC
Japan’s prime minister on Thursday urged US President Donald Trump to amend his executive order on Washington’s higher new tariffs, Anadolu Agency reported citing Kyodo News.
Shigeru Ishiba’s comments come as the US’ 15% tariffs on Japanese exports took effect as of today.
Japan's top tariff negotiator Ryosei Akazawa also flew to Washington earlier this week seeking a swift reduction in auto tariffs in line with the countries’ recent bilateral trade deal.
Ahead of his departure, Akazawa told a parliamentary committee that the purpose of his visit was to confirm that there are no discrepancies in the agreed tariff terms.
But on Wednesday, a White House official said that Japanese imports will not be given special treatment as Tokyo had believed under the recent trade deal.
Under the trade deal, Japan has pledged to boost investment in the US as part of a $550 billion initiative, while the US will also reduce its tariff on imported Japanese cars to 15% from the current 27.5%.
With autos, a key pillar of Japan’s economy, prolonged higher tariffs could hurt major carmakers like Toyota and Honda, which rely heavily on the American market.
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