Japan deeply concerned about U.S. reciprocal tariffs, demands removal
TOKYO, April 3 Kyodo - Japan on Thursday expressed its extreme regret and "serious concern" about the U.S. move to impose reciprocal tariffs on Japanese products, urging Washington, its closest ally, to rescind the measure, which it says may go against global trade rules.
Trade minister Yoji Muto conveyed Tokyo's concern to U.S. Commerce Secretary Howard Lutnick that the imposition of a 24 percent levy would make it difficult for Japanese companies to invest in the U.S. market and therefore hurt the world's largest economy, Muto said after their online meeting.
U.S. President Donald Trump made the announcement Wednesday to slap sweeping reciprocal tariffs on its trading partners to rectify what he views as imbalanced trade. The decision came despite Japan's efforts to secure exemptions.
"It's extremely regrettable that the U.S. government announced its decision to impose reciprocal tariffs even though we have conveyed our concern at various levels and urged (the United States) not to take unilateral measures," Chief Cabinet Secretary Yoshimasa Hayashi said.
"We are seriously concerned about whether the tariff measure is consistent with WTO rules and the Japan-U.S. trade agreement," the top government spokesman told a regular press conference.
The United States is one of Japan's biggest trading partners and higher duties on U.S.-bound shipments would deal a blow to the export-reliant Japanese economy. This comes amid growing concern about the negative blow from a separate auto tariff to Japanese companies such as Toyota Motor Corp.
Asked if Japan would take any retaliatory measures, Muto said the government will explore a variety of options and choose the best path for protecting national interests. Top government spokesman Hayashi, meanwhile, declined to disclose what Tokyo had in mind.
Japan has been emphasizing the investment that its firms have made in the U.S. economy, in its bid to secure tariff exemptions. The Asian nation has been a promoter of free trade, salvaging negotiations on a trans-Pacific free trade deal from collapse after the United States withdrew during Trump's first term.
During his talks with Lutnick, Muto said he had asked that policies be imposed that benefit both Japan and the United States.
Meanwhile, Prime Minister Shigeru Ishiba instructed Itsunori Onodera, the policy chief of the ruling Liberal Democratic Party to consider all necessary measures to cope with the imposition of the U.S. tariffs.
==Kyodo
