TOKYO: Japan "regrets" new US tariffs, the government said Friday (July 24), after Tokyo was included on Washington's list of trading partners hit with levies ranging from 10 to 12.5 per cent.
"Japan's industry and trade are conducted in accordance with international rules. Japan regrets that this latest measure imposes tariffs on Japan solely on the grounds that there is no ban on the import of products produced through forced labour," chief government spokesman Minoru Kihara (pic) said.
"Japan and the United States share the understanding that last year's agreement is universal and that both sides remain committed to its implementation," Kihara told reporters.
"We have also confirmed with the United States that it will not impose additional tariffs on Japan that exceed the terms of last year's agreement. We will continue to work closely with the US side."
Washington announced new tariffs on 60 trading partners over forced labour concerns, replacing an expiring global duty rolled out by President Donald Trump earlier this year.
The US Supreme Court struck down a host of his duties in February and Trump tapped different authorities to reimpose a 10-per cent tariff on imports. These expire after 150 days on Friday.
Japan agreed to invest US$550 billion in the United States by 2029 in return for slashing threatened tariffs of 25 per cent to 15 per cent. The promises remained valid even after the US Supreme Court decision.
Under Thursday's announcement economies that have implemented a forced labour import prohibition or committed to do so were hit with the lower 10-per cent rate. They include Canada, the EU, India and the United Kingdom.
China, Japan, South Korea and dozens of others were deemed to deserve the higher 12.5 per cent tariff. - AFP
