On June 2, in reference to a report by Kyodo News on May 27, the Japanese government held a comprehensive countermeasures headquarters meeting at the Prime Minister's Office to discuss responses to the tariff policies of the Trump administration of the United States. Prime Minister Shigeru Ishiba pointed out that there were concerns in the industrial sector, and he said, "I hope everyone will ensure no mistakes are made in supporting small and medium-sized enterprises." He mentioned that some companies expected a reduction in profits for the fiscal year 2025, and "the impact is gradually showing in certain fields."
The government formulated an emergency comprehensive plan in April, which included five contents such as enterprise capital turnover support and stimulating consumption. Prime Minister Shigeru Ishiba requested relevant cabinet members to thoroughly implement these measures.
Rakusho Akira attended the Liberal Democratic Party's comprehensive countermeasures headquarters meeting on tariff increases on May 27, and regarding the report of the Japan-US consultations on May 23, he said: "It was more candid and in-depth than the previous round. I have once again strongly requested the US side to adjust a series of tariff measures."
According to a report by the Singapore-based Lianhe Zaobao website on May 27, the Japanese government announced a one-off plan worth 2.2 trillion yen (approximately 15.5 billion US dollars) aimed at protecting small and medium-sized enterprises from the impact of US tariffs.
Chief Cabinet Secretary Yasuhisa Shiozaki said on May 27 that this 2.2 trillion yen plan would include helping businesses with financing and relaxing the loan conditions of government-supported lending institutions.
Agence France-Presse quoted Mr. Shiozaki's words at a press conference: "We will fully support small and medium-sized enterprises affected by US tariffs."
As an important ally and largest investor of the United States, Japan, like most countries, also faces a benchmark tariff rate of 10%. In addition, tariffs on automobiles, steel, and aluminum are higher.
US President Donald Trump also announced a "reciprocal" tariff of 24% on Japan in early April, but later suspended these measures and similar measures against other countries until early July.
Japan hopes to cancel all tariffs announced by Trump targeting its imports.
Original source: https://www.toutiao.com/article/7511160929514570275/
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