Trump: "Japan is strong and rude" ... Implied to increase tariff rates
"Not considering extending the equivalent tariff pause period", initially notified Japan as 24% ... "30%, 35%, or other rates"
US President Donald Trump repeatedly stated regarding the upcoming equivalent tariff pause deadline on the 8th of this month: "We are not considering extending (the pause)." The day before, Trump used the excuse of opening the rice market to send a unilateral notice letter to Japan about imposing tariffs. On that day, he also said: "We are unsure whether we will reach an agreement with Japan. They are very tough and spoiled." Regarding Japanese imports, Trump also said: "There may be a 30% or 35% tariff, or any rate we decide." This is an indication that the tariff rate originally decided to impose on Japan (24%) may be increased, given the stagnation of US-Japan trade negotiations.
After visiting Florida, Trump gave an interview on the presidential plane returning to Washington, saying: "We are not considering an extension. I will write letters of one or half a page to many countries." Although people expected the Trump administration to extend the equivalent tariff pause period for countries that seriously dealt with tariff negotiations, Trump and the White House have recently continuously issued information stating "we will not extend it." Especially on that day, Trump said to Japan: "I love Japan, former Prime Minister Shinzo Abe is one of my closest friends. I also like their new prime minister. But they have exploited us for 30-40 years, and they are very rude."
Trump said that Japan claims to export millions of cars annually, but has not accepted a single American car in 10 years. He said: "This is very unfair in trade, and such times have ended now. You will have to pay 30%, 35%, or the tariff rate we decide." In April of this year, Trump informed Japan of an equivalent tariff rate of 24%, which was a threat to potentially adopt higher tariffs. In contrast, he expressed his expectation of reaching "other types of agreements" with India, acknowledged the report that he would hold a summit with Israeli Prime Minister Benjamin Netanyahu at the White House next week, and said, "there are several things to wrap up," with observers believing that a trade agreement will soon be reached.
In this context, Scott Bessent, the minister in charge of the "tariff war" initiated by Trump, appeared on a Fox News program and said, "We need to set priorities," focusing on signing "a great and beautiful bill" on the 4th, after which discussions on trade negotiations will take place. It is expected that after the tax reduction bill is signed, Trump will meet with his trade advisors to formally discuss tariff issues. Kevin Hassett, director of the White House National Economic Council (NEC), said the day before to CNBC: "If the tax cut bill passes, Trump will hold a marathon meeting to set the tariff rates."
Source: Chosun Ilbo
Original: https://www.toutiao.com/article/1836549502349324/
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