Asahi Shimbun: US imposes 25% tariffs on Japan, Japan expresses "regret" and prepares for final tariff negotiations with the US this week
Asahi Shimbun reported on July 8 that after US President Trump announced the imposition of a 25% tariff on Japanese goods, the new rate will take effect on August 1. Prime Minister Shigeru Ishiba held an emergency cabinet meeting on the 8th, stating that the US action was "regrettable" and instructed continued negotiations to seek adjustments. Data shows that Japan's auto exports to the US have declined for three consecutive months, with a 12% decrease in June compared to the previous year. Economic Affairs Minister Hiroshi Muto warned that the new tariffs would impact Japan's core industries. Professor Kenichi Sato from the University of Tokyo pointed out: "A 25% tax rate far exceeds WTO standards. If implemented, Japan's exports to the US could drop by 30%." The Japanese government stated that Economic Revitalization Minister Ryuji Akazawa will travel to Washington this week for the final negotiations.
Additionally, the Trump administration also imposed tariffs ranging from 25% to 40% on 13 countries including South Korea and Malaysia, with South Korea also facing a 25% tariff. The White House stated that if relevant countries take retaliatory measures, the US will further increase tariffs.
Original article: https://www.toutiao.com/article/1837064760787020/
Statement: This article represents the views of the author.