JULY 2 – US President Donald Trump has threatened to impose a “30% or 35%” tariff on Japan if a deal between the 2 international locations isn’t reached earlier than a deadline subsequent week.
That could be properly above the 24% tariff Japan was hit with as a part of Trump’s so-called “Liberation Day” on 2 April, when he introduced steep import duties on international locations all over the world.
The tariffs on most US buying and selling companions, together with Japan, had been later lowered to 10% for 90 days to present them time to barter offers with Washington.
That pause is because of expire on 9 July and Trump has stated he’s not considering of extending the deadline.
Trump additionally continued to solid doubt that an settlement could possibly be reached with Tokyo.
“We’ve handled Japan. I’m undecided we’re going to make a deal. I doubt it,” he advised reporters aboard Air Force One on Tuesday.
Japan declined to touch upon Trump’s menace to hike tariffs throughout a information convention on Wednesday.
“We are conscious of what President Trump stated, however we don’t touch upon each comment made by US authorities officers,” the nation’s Deputy Chief Cabinet Secretary Kazuhiko Aoki stated.
Like many different international locations, most of Japan’s exports to the US at the moment face a ten% levy. There can also be a 25% import tax on Japanese autos and elements, whereas metal and aluminium are topic to a 50% tariff.
Earlier on Tuesday Japan’s chief cupboard secretary Yoshimasa Hayashi stated he wouldn’t make concessions that would damage his nation’s farmers to strike an settlement with Washington.
The feedback got here after Trump criticised international locations over their commerce insurance policies in direction of the US, focussing on Japanese rice imports.
“To present folks how spoiled Countries have change into with respect to the United States of America, and I’ve nice respect for Japan, they received’t take our RICE, and but they’ve a large rice scarcity,” he wrote on his Truth Social platform.
Trump initially stated he would signal 90 commerce agreements through the pause on the brand new tariffs however since then solely the UK has struck a take care of the US.
By BBC
