Wednesday, February 12, 2025  

 
Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
Japan Asks US to Exclude It F 02/12 06:05

   

   TOKYO (AP) --- Japan 's government said Wednesday it asked the U.S. to 
exclude it from 25% steel and aluminum tariffs, a change from duty-free quotas 
that Tokyo was given previously.

   Japan made the request through its embassy in Washington after U.S. 
President Donald Trump removed the exceptions and exemptions from his 2018 
tariffs on steel imports to a minimum of 25%, while hiking aluminum tariffs to 
25% from 10%.

   "Japan will firmly take necessary steps as we fully examine details of the 
new measures and their possible impact on the Japanese economy," Chief Cabinet 
Secretary Yoshimasa Hayashi told reporters, suggesting that his country will 
lobby for an exemption in the coming weeks before the measures are due to take 
effect.

   The measures announced by Trump are part of his aggressive push to reset 
global trade in the belief that tax hikes on foreign-made products will 
strengthen domestic manufacturing.

   Japan was given an annual duty-free quota of up to 1.25 million tons of 
steel under the former President Joe Biden 's administration. Japan's exported 
1.18 million tons of steel to the U.S. in 2024, according to the American Iron 
and Steel Institute.

   Japanese steel exports to the U.S. totaled 302.7 billion yen ($2 billion) in 
2024, accounting for 1.4% of the total exports to America. Aluminum exports 
were much less, government data show.

 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN