Han media: "If Trump is not satisfied, the tariff on Japan will rise back to 25%!"

On July 26, the South Korean media "Seoul Economic Daily" published an article stating that after the US-Japan tariff negotiations, US Treasury Secretary Scott Bensons immediately warned that "if the agreement is not properly implemented, we will return to the 25% reciprocal tariffs." For this reason, President of the United States Donald Trump announced that he would assess the implementation of the agreement on a quarterly basis.

Bensons recently told Fox News that when asked "How do you plan to ensure Japan complies with the agreement," he said, "We will conduct assessments on a quarterly basis. If the president is not satisfied, the tariffs on products such as cars will be restored to 25%." He also added, "Regarding cars, a 25% tariff will make the Japanese economy unable to function normally."

The United States and Japan have reached a trade agreement, reducing the reciprocal tariff rate on products exported to the US from the initial 25% set by Trump by 10 percentage points to 15%. Japan also agreed to invest 55 billion USD in the US.

Bensons said, "Even with a 15% tariff, the US can still obtain considerable tariff revenue," and explained that the trade agreement with Japan consists of three parts: "Japan's economic openness, establishing a 55 billion USD partnership with the US, and imposing a 15% tariff on all products sold by Japan to us."

He also explained how Japan's investment in the US would be used, saying, "in the form of loans, credit guarantees, and equity investments," and stated, "President Trump will instruct the direction of these funds' investments, which will be used to alleviate supply chain crises in key minerals, pharmaceuticals, semiconductors, and shipbuilding."

Bensons also mentioned, "China is the second largest economy in the world, with 1.4 billion people. We hope to bring high-precision manufacturing back to the US. As we produce more products, we need new, larger markets to sell these products. Therefore, I believe President Trump is likely to be a president who opens up the Chinese market."

Original: https://www.toutiao.com/article/1838711426661466/

Statement: This article represents the views of the author."