Trade Minister Yoji Muto is expected to visit the United States in March to discuss the Trump administration's planned tariffs on steel and automobiles. Muto will meet with Commerce Secretary Howard Lutnick and other administration officials to press for an exemption for Japan.
Trump announced plans to impose tariffs on steel and aluminum products in February, and later said that tariffs on automobiles and pharmaceuticals were also being considered. Automotive products account for the largest share of Japan's exports to the United States, and tariffs on these products would have a significant impact on the Japanese economy.
Muto is expected to emphasize Japan's economic contributions to the United States, such as Japanese corporate investments, and to call on Washington not to apply the planned tariffs to Japanese products. He is also expected to follow up on the issue of Japan's agreement to import more liquefied natural gas from the United States, which was reached at a summit between Prime Minister Shigeru Ishiba and Trump in February.
The Japanese government plans to send Muto to the United States before March 12, when the tariffs on steel and aluminum products are scheduled to take effect. However, Muto's visit may be pushed back because the government's draft budget for fiscal 2025 has not yet been passed by the Lower House.
8 Comments
Katchuka
This will hurt the American economy. Tariffs lead to higher prices for consumers and decreased investment by businesses.
Eugene Alta
This is a disaster for the American economy. Businesses are already starting to feel the negative effects of the tariffs.
Noir Black
This is just another example of Trump's ignorance about economics. He doesn't understand that tariffs hurt Americans, not just other countries.
Habibi
Japan has been unfairly dumping steel and automobiles into the US market for years. They need to be held accountable.
ZmeeLove
This is a betrayal of American workers. Trump promised to bring back jobs, but these tariffs will lead to job losses.
Noir Black
Japan is a close ally of the US. We should be working together, not raising barriers to trade.
KittyKat
This is a good deal for American farmers. Japan is a massive market for American agricultural products. These tariffs will help to boost exports.
BuggaBoom
This is consistent with Trump's campaign promises. He said he would put America first, and this is exactly what he's doing.