By The Straits Times | Created at 2025-04-03 03:17:38 | Updated at 2025-04-03 23:55:26
21 hours ago
TOKYO – Japanese Trade Minister Yoji Muto said on April 3 that Japan is leaving all options open to respond to US President Donald Trump’s newly announced tariffs.
In a news conference, Mr Muto said he held an online meeting with US Commerce Secretary Howard Lutnick just before Mr Trump’s announcement to repeat Japan’s demand for an exemption from the tariffs, which he called “extremely regrettable”.
“We need to decide what is best for Japan, and most effective, in a careful but bold and speedy manner,” he said, when asked whether Japan would retaliate.
Mr Muto said his ministry would establish a task force to analyse the impact of the tariffs, which Mr Trump said would amount to 24 per cent for Japan, and provide information to affected parties.
A previously announced 25 per cent tariff on car imports are set to take effect as scheduled on April 3 US time, in a major blow to the Japanese auto industry, which accounts for roughly 3 per cent of gross domestic product.
Mr Muto said Japan has “serious concerns” over whether Mr Trump’s tariffs were consistent with the World Trade Organisation’s framework. REUTERS
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