Japan Asks US for Exclusion From Steel, Aluminum Tariffs
Japan has asked the Trump administration to exempt it from new 25% tariffs on steel and aluminum imports, Japanese Minister of Economy, Trade and Industry Yoji Muto said during a Feb. 12 press conference.
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“We have requested the U.S. government to exclude Japanese companies from the measures,” he said, according to an unofficial translation of a press conference transcript. Muto added that Japan has been “providing information and advice” to Japanese companies about the tariffs through a new consultation hotline (see 2502030053), and the country may take other steps to support its industry. Impacted Japanese steel and aluminum exports may benefit from insurance payouts from the government-owned Nippon Export and Investment Insurance corporation, he said.
Japan “intends to thoroughly examine the impact on Japanese companies and take the necessary measures,” he said, adding that it believes the duties “could have a major impact on the entire multilateral trading system based on [World Trade Organization] rules and on the global economy.”
Muto declined to say whether Japan believes Trump could soon impose additional tariffs on other goods, including on automobiles, semiconductors and pharmaceuticals.
“I have heard various reports, but I have not heard that anything has been decided yet,” he said. “So I would like to refrain from making any prejudiced comments at this point. “