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Japan Expresses Regret Over New US Tariffs on Trade Partners

Japan has expressed regret over the new US tariffs imposed on several trading partners, including Japan itself.

By Staff Correspondent
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Japan 'regrets' new US tariffs: government | Business
BSS

Japan has expressed regret over the new tariffs imposed by the United States on several trading partners, including Japan itself. The Japanese government stated its disappointment after Tokyo was included on Washington's list of trading partners subjected to levies ranging from 10 to 12.5 percent.

Chief government spokesman Minoru Kihara emphasized that Japan's industry and trade are conducted in accordance with international rules. He expressed regret that the new tariffs were imposed solely on the grounds that there is no ban on the import of products produced through forced labour.

Kihara highlighted that Japan and the United States share the understanding that last year's agreement is universal and that both sides remain committed to its implementation. He also confirmed that the US will not impose additional tariffs on Japan that exceed the terms of last year's agreement.

The US announced new tariffs on 60 trading partners over forced labour concerns, replacing an expiring global duty rolled out earlier this year. The tariffs vary, with some partners facing a 10-percent rate and others, including Japan, facing a higher 12.5 percent rate.

Japan had previously agreed to invest $550 billion in the United States by 2029 in return for slashing threatened tariffs of 25 percent to 15 percent. These promises remained valid despite the US Supreme Court striking down a host of duties in February.

Source: BSS

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