Japan’s commerce minister did not win an instantaneous exemption from US President Donald Trump’s tariff marketing campaign whilst he doubled down on the request in his first in-person discussions with US counterparts.
Creator of the article:
Revealed Mar 10, 2025 • Final up to date 3 minutes in the past • 2 minute learn
Article content material
(Bloomberg) — Japan’s commerce minister did not win an instantaneous exemption from US President Donald Trump’s tariff marketing campaign whilst he doubled down on the request in his first in-person discussions with US counterparts.
Article content material
Article content material
“We now have requested that Japan shouldn’t be topic to the tariff measures that the US authorities has introduced to date,” Japanese Commerce Minister Yoji Muto stated. “We defined Japan’s place on the influence on Japan’s trade and close to the event of the enterprise surroundings and growth of funding and employment in each Japan and the US.”
Commercial 2
Article content material
Muto spoke with reporters from the US capital after he earlier met with Commerce Secretary Howard Lutnick, Commerce Consultant Jamieson Greer and White Home financial adviser Kevin Hassett. Muto stated that he obtained the impression throughout his conferences that Washington takes Japan’s contribution to its economic system significantly, with the US emphasizing that its focus is on reviving the US manufacturing trade.
The talks didn’t lead to any affirmation to exclude Tokyo from upcoming tariff measures, Muto stated, as the 2 sides determined to maintain consulting carefully on issues associated to commerce. Further levies on metal and aluminum are scheduled to take impact on March 12, with reciprocal tariffs and a proposed 25% tariff on overseas automotive imports anticipated to return on April 2.
Muto stated he and his counterparts mentioned an Alaskan fuel mission throughout the framework of US-Japan power cooperation. He didn’t elaborate on the content material of these talks. Final week, Trump touted curiosity from Tokyo and Seoul to speculate closely within the proposed Alaska pipeline to move pure fuel. In February, Japanese Prime Minister Shigeru Ishiba pledged to spice up funding within the US to $1 trillion. Nonetheless, he hasn’t talked about something particular relating to the Alaska enterprise.
Commercial 3
Article content material
New duties on automotive imports would deal a direct blow to Japan’s economic system. Final 12 months, auto exports accounted for 17% of all outbound shipments from Japan, with greater than a 3rd of the overall going to the US.
Japan can be bracing for an oblique influence from tariffs that Trump is imposing on different nations. Final week, the president slapped tariffs on Canada and Mexico then delayed a few of them, together with levies on automobiles, for one month. Trump additionally doubled a levy on China. All these developments are prone to have an effect on Japan as a result of Japanese carmakers function in Mexico and Canada, and Beijing is certainly one of its most essential buying and selling companions.
Together with his go to to Washington, Muto joins the ranks of his world counterparts who’ve additionally traveled to the White Home to foyer for aid from the assorted tariffs that Trump has telegraphed. Ahn Duk-geun, South Korea’s Minister of Commerce, Trade and Power made a visit to the US final month.
(Updates with extra content material from Muto’s discussions with the US aspect)
Article content material
