In a rapidly evolving trade scene, Japan's Prime Minister Shigeru Ishiba is set to have a phone call with U.S. President Donald Trump as early as next week. During a recent TV program appearance, Ishiba stressed that a logical discussion on how Japan can benefit U.S. trade is on the agenda, with a possibility of exploring new investments in the United States 🚀.
Amid the new U.S. tariffs—including a baseline 10% on most imports and a heftier 24% on Japanese goods—Tokyo has been actively lobbying for an exemption. Despite intensive diplomatic efforts, Japan woke up to news of a reciprocal 46% tariff, prompting concerns of a "national crisis" and fueling urgent management plans at home.
Notably, Ishiba confirmed that Japan will not resort to tit-for-tat measures. Instead, his approach focuses on dialogue and economic logic. The government is also planning to ease access to state-backed loans for small businesses, while a task force has been formed to assess the broader economic impact.
The tariff dispute also touches on Japan’s rice market. U.S. claims of a 700% tariff, which have drawn sharp rebuttals from Agriculture Minister Taku Eto—who labeled the figure "illogical"—underline the importance of sticking to WTO guidelines. Under current rules, Japan enjoys a tariff-free rice import quota of about 770,000 metric tons, with only excess imports facing a modest levy.
This high-stakes trade dialogue not only underscores the challenges of international economic negotiations but also highlights the potential for fresh investments and mutually beneficial outcomes. Stay tuned for more updates as these crucial talks unfold! ✨
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Japan's PM to discuss tariffs with Trump after failed exemption lobby
cgtn.com
