Japan calls for fairness in new US tariff policy


South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji/File Photo

TOKYO: Japan has sought assurances from the United States that Tokyo will not be put at a disadvantage under Washington’s latest tariff measures, urging that a potential 15% tariff not be applied to Japanese goods, its trade minister says.

Economy, Trade and Industry Minister Ryosei Akazawa said he made the request during a two-hour meeting in Washington with US Commerce Secretary Howard Lutnick. Akazawa briefed reporters after the meeting.

After the US Supreme Court knocked down some of President Donald Trump’s key tariffs in February, the United States imposed a new 10% blanket levy that could rise to 15%, generating new global uncertainty about the trade deals struck last year and the tariff rates importers now face.

Akazawa said both governments reaffirmed their commitment to last year’s trade deal, which formalised a baseline 15% tariff on nearly all Japanese imports, down from 27.5% on autos and initially threatened 25% on most other goods.

“We requested that Japan’s treatment under the new tariff rules would not become less favourable than what was agreed last year,” Akazawa said, noting that Trump’s new blanket levy could otherwise raise costs for certain Japanese export items. He declined to say how the US side responded.

Akazawa added that he and Lutnick also discussed a series of projects under Japan’s US$550bil US investment pledge, as well as cooperation on energy and critical minerals, ahead of Prime Minister Sanae Takaichi’s visit to Washington on March 19.

The US Commerce Department said on X that Lutnick and Akazawa met for talks on strengthening economic ties following last month’s investment agreement, with no mention of tariff treatment. — Reuters

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