Japan PM Ishiba vows to stay on
Digest more
Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.
Japan's top tariff negotiator, Ryosei Akazawa, said on Saturday he planned to visit Washington next week to hold further ministerial-level talks with the U.S.
The U.S. will impose tariffs of 25% on Japan and South Korea beginning on Aug. 1, President Donald Trump announced on Monday in posts on Truth Social.
Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.
A mutually beneficial U.S.-Japan tariff agreement is still possible, Treasury Secretary Scott Bessent said on Friday after meeting Japanese Prime Minister Shigeru Ishiba in Tokyo. "A good deal is more important than a rushed deal,
President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries
President Trump's newly announced 25% tariffs on goods from South Korea and Japan closely reflect tariffs for each nation that Trump had announced on April 2, before implementing a 90-day pause that was set to expire Wednesday.
When car maker Mazda sneezes, everyone catches a cold, say people in its hometown of Hiroshima in western Japan, but these days, auto parts maker Yuji Yamaguchi fears a deep chill is on the way.
Japan protects domestic production of rice, its staple grain, with a tariff of about $2.38 per kilogram on imports beyond a tax-free quota of roughly 770,000 tons.
If no deal is made, Japanese imports face a 25 percent tariff from Trump, which threatens to drive up prices in the U.S. on affected goods. Japan mostly exports vehicles, machinery, and electronics to the U.S. It also risks damaging relations with a key Pacific ally of Washington.