Reuters: Trump Complains About US-Japan Trade Talks, US Treasury Warns of Tariff Increases on July 9
Reuters reported on July 1 that US President Trump expressed dissatisfaction with the progress of US-Japan trade talks on Monday (June 30). Meanwhile, Treasury Secretary Bensont warned that if an agreement is not reached by the deadline on July 9, the US will notify of significant tariff increases. Trump posted on social media that Japan's refusal to import US rice was a sign of being "spoiled by the US," saying, "We respect Japan, but they don't buy our rice, despite their severe rice shortages," and stated that he would send a tariff adjustment notice to Japan. White House spokesperson Levitt said that if trade partners do not negotiate in good faith, Trump will convene the trade team to set new tariff rates. Treasury Secretary Bensont said whether to extend the negotiation period "is solely up to the president," and expected "a large number of deals" before the deadline. However, if the negotiations fail, the 11% to 50% tariff rates announced on April 2 will be reinstated. "We hope we won't have to revert to tariffs," Bensont said. Japanese chief negotiator Akasawa Ryoji responded that Japan will continue to strive for an agreement, but must defend national interests and warned that if the US maintains a 25% auto tariff, it will cause a significant blow to the Japanese economy. According to sources, the EU is willing to accept a 10% US tariff, but demands that the US commit to lowering tariffs on key areas such as medicines and semiconductors; the UK has already accepted a 10% auto tariff in exchange for market access for aircraft engines and beef.
Original: https://www.toutiao.com/article/1836438842871819/
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