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Japan Fails to Secure Exemptions from U.S. Tariffs on Key Exports

Japanese Trade Minister Yoji Muto's negotiations with U.S. officials did not yield assurances of exemption from tariffs on steel, aluminum, and automobiles.

FILE - A container ship is loaded and unloaded at a container terminal at a port of Kawasaki near Tokyo on March 9, 2022. (AP Photo/Koji Sasahara, File)
Japan's Minister of Economy, Trade and Industry (METI) Yoji Muto arrives at Prime Minister Shigeru Ishiba's official residence in Tokyo, Japan October 1, 2024. REUTERS/Issei Kato/File Photo
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Overview

  • A 25% tariff on Japanese steel and aluminum imports to the U.S. is set to take effect on March 12, with a similar tariff on Japanese cars scheduled for April 2.
  • Automobiles, which constitute around 30% of Japan's exports to the U.S., are a critical sector that could face significant economic strain from the new tariffs.
  • Japanese Trade Minister Yoji Muto met with U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer but did not secure an exemption from the tariffs.
  • Muto emphasized Japan's contributions to the U.S. economy through investments and job creation, while both sides agreed to continue discussions to strengthen economic ties.
  • Talks also included discussions on energy cooperation, such as joint development of liquefied natural gas projects in Alaska, but no concrete agreements were reached.