Japan Pushes for Tariff Relief During 90-Day Pause
Japan will continue to press the U.S. to rethink its tariff plans in the hope of getting a long-term reprieve from higher tariffs delayed by President Donald Trump, the country’s top trade representative said. “There is no change in Japan’s policy,” said Ryosei Akazawa, who this week was named the country’s top negotiator for the U.S. levies.
“We will pursue Japan’s national interests to the fullest extent possible without panicking or making a fuss.” The 90-day pause removes the higher levies across the board on goods imported into the U.S. from Japan and many other countries for now, while keeping the basic tariffs at 10%. Japan previously faced tariffs of 24%. The temporary withdrawal came just hours after Trump imposed a series of tariffs that spooked investors, triggered market turmoil and prompted government officials around the world to hold meetings aimed at calming nerves.
Tokyo is expected to be a priority in trade negotiations with Washington. U.S. Treasury Secretary Scott Bessent said he would speak with officials from Japan, Vietnam, India and South Korea in the coming days. Japan still faces 25% tariffs on cars, auto parts, steel and aluminum, while other goods remain subject to a flat 10% tariff that applies to all countries.
Japanese officials worry that the tariffs, especially on cars, pose a serious threat to the country’s economy. Finance Minister Katsunobu Kato said Thursday that he would do his best to offset the impact of the tariffs by introducing economic measures. He added that he would keep a close eye on the impact of U.S. trade policy on financial markets. Japan sees the suspension of some tariffs as a positive development, but will continue to call for a review of the remaining levies, said Akazawa, who also serves as economic revitalization minister.
Source: Bloomberg
