Duties will reduce economic growth in Japan by up to 0.8% – Japan is between 50-70 countries having commercial conversations with US
Japan sends a team to negotiate for trade, the US president said Donald Trump adding that he spoke earlier on Monday with the Japanese prime minister Sigeru Isibanwho told Trump to review the tariff policies.
Trump’s decision to impose a 25% contribution on car imports and a 24% mutual duty on other Japanese products is expected to cause a huge blow to Japan’s heavy export economy. Analysts predict that higher duties could reduce economic growth by up to 0.8%, in accordance with Reuters.
“Countries from all over the world are talking to us. Are determined harsh but fair parameters’, Trump wrote on the Truth Social platform.
Trump put the Minister of Finance Scott Bessed and the US trade representative JIMISON GRIR Responsible for trade negotiations with Japan, Bessed said on social media.
The Japanese prime minister also told Trump in their telephone communication that his tariff policies were extremely disappointing and urged him to think about it again.
“We have an excellent relationship with Japan. We will keep it that way, “Trump told reporters on Monday.
Ishiba called key finance ministers including the Minister of Finance Katsunobu katoon Sunday night and ordered them to be alert and respond to market developments, according to the Japanese newspaper Nikkei.
Bessed told Fox Business Network that he has not yet seen proposals from Tokyo, but that he expects successful negotiations to reduce Japan’s non -tariff barrier barriers.
“Japan is between 50 to 70 countries that have approached the Trump government so far for negotiations”Besed said.
“Japan is a very important military ally. It is a very important financial ally and the US has a long history with them. “Besed said. “So I would expect Japan to have a priority just because it appeared very quickly.”
Bessed added to his post on x that “China is isolated with retaliation to Trump’s duties.”
“For countries that do not react, we are at a maximum level of duties and I hope that through good negotiations, we will see levels fall.”Besed told Fox Business Network.
Source :Skai
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