Trump unveils 25% tariffs on Japan, South Korea
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Japan will keep trying to strike a trade deal with the U.S. that benefits both sides, Prime Minister Shigeru Ishiba and his ministers.
When Japanese Premier Shigeru Ishiba first met Donald Trump in February, his plan to placate the protectionist president's long-held frustration with Tokyo on trade was a promise to invest $1 trillion in the United States.
The head of one of Japan’s most powerful business lobbies has accused the government of a “mistake” in its trade negotiating strategy with the US, after President Donald Trump announced 25 per cent tariffs on Washington’s closest Asian ally.
By Leika Kihara TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.
Trump’s renewed tariff threats hit some of the closest U.S. allies. Japanese Prime Minister Shigeru Ishiba described the developments as “deeply regrettable.”
Japanese Prime Minister Shigeru Ishiba pushed back against the idea there has been little progress in negotiations with the US on a trade deal as a deadline looms for a 24% across-the-board tariff to take force.
Trump has now extended the deadline for negotiations to Aug. 1 and tinkered with his threatened tariffs, leaving the global trading system pretty much where it stood three months ago — in a state of limbo as businesses delay decisions on investments, contracts and hiring because they don’t know what the rules will be.
Japan is a major car exporter and 25% levies on auto imports into the U.S.—separate from what President Trump calls reciprocal tariffs—have been a key sticking point in trade negotiations. “The auto industry is our core industry.
BRUSSELS (Reuters) -European Commission President Ursula von der Leyen and U.S. President Donald Trump had a "good exchange" on Sunday, a Commission spokesperson said on Monday, adding that the EU's aim remained to reach a trade deal with Washington by July 9.