The Japanese government has asked US President Donald Trump to exclude Japanese companies from the new steel and aluminum tariffs. As you know, the 25% duty will come into effect on March 12. This was reported by Bloomberg, according to UNN.
Details
Trade Minister Yoji Muto told reporters that the request was made on Wednesday, February 12. He added that the government will carefully study the impact of the US tariff measures on Japanese companies and take the necessary measures.
For their part, Finance Minister Katsunobu Kato and Chief Cabinet Secretary Yoshimasa Hayashi also stated Tokyo's vigilance on this issue at separate press conferences.
The publication reminds that in 2018, Trump imposed duties on steel and aluminum from his largest trading partners, including the EU and Japan, citing national security risks. However, later, under Joe Biden, the US and Japan reached a truce that allowed most steel shipments from the Asian country to go duty-free.
The publication also writes that in 2024, Japan exported 1.1 million tons of steel to the United States worth 303 billion yen and 74,565 tons of non-ferrous metals worth 179 billion yen, including aluminum. They accounted for 1.4% and 0.8% of total exports to the United States, respectively.
Recall
The US President signed an executive order imposing 25% tariffs on steel and aluminum imports starting March 4. Canada, Mexico, Brazil, and South Korea will be most affected, but Australia may be granted exemptions.