Japan Confirms U.S. Steel Tariffs Stay Unchanged
(MENAFN) The United States will continue enforcing its 50% levies on Japanese steel and aluminum, Japan's administration announced on Wednesday.
This development comes as the two nations finalized a more extensive commercial arrangement, which incorporates mutual tariffs and a significant financial pledge from Japan.
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi informed the press in Tokyo that the duties on steel and aluminum were not included in the recent tariff pact declared by U.S. President Donald Trump.
However, he noted that there would be “a robust discussion” between both parties “going forward for steel and aluminum and a series of tariff measures.”
Under this new agreement, Japan will apply 15% reciprocal levies on a selection of American products. President Trump, through Truth Social, revealed that Japan plans to invest “$550 Billion Dollars into the United States, which will receive 90% of the Profits.”
This accord encompasses trade involving automobiles, agricultural produce, and grain, including rice. Trump claimed the initiative would generate “hundreds of thousands of jobs.”
According to a Japanese public broadcaster, the nation is anticipated to expand its import of American rice.
At present, Japan brings in nearly 770,000 tons of rice annually without tariffs under its “minimum access” policy.
Commenting on the matter, Hayashi stated, “Regarding the rice minimum access framework and within the range, based on the supply and the demand situation of rice domestically, we will procure necessary amounts. For this, there was communication with the US side. Of course, sacrificing the agriculture sector is not something that we have discussed.”
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