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Agency. Japan said on Wednesday it was “regrettable” that the country was not exempted from US President Donald Trump’s 25 percent tariffs on steel and aluminum.
Questioned whether Japan was considering retaliatory measures, top government spokesman Yoshimasa Hayashi said the two countries would continue to discuss the details of the tariffs that went into effect at midnight US time (0400 GMT Wednesday).
“Broad trade-restricting measures risk having a significant impact on Japan-US economic relations as well as the global economy and the multilateral trading system,” Hayashi told reporters, adding that it was regrettable that Japan was not exempted from the additional tariffs. .’
In 2024, Japan exported 31.4 million tons of steel. Of that, 1.1 million tons went to the United States. According to Washington, this is four percent of the country’s steel imports.
“Imports of Japanese steel and aluminum products do not harm US national security, but rather, our high-quality products are difficult to substitute and are necessary to strengthen the competitiveness of the US manufacturing industry,” Hayashi said.
Minister of Economy, Trade and Industry Yoji Muto urged US officials in Washington this week to exempt Japan from the upcoming tariffs on metals and vehicles.
“During Minister Muto’s US visit, Washington has prioritized its relationship with Japan and valued the role Japan plays in the US economy through investment in the United States and employment.” “The proportion of Japanese exports of steel and aluminum to the United States… is very small, so the direct impact on Japanese companies will not be that big,” Japan Business Federation President Masakazu Tokura said earlier this week.
However, the tariffs on automobiles will have a significant impact, especially since many Japanese companies have expanded into Mexico and Canada and are exporting from there to the United States.
“The biggest problem is the decline in business forecasting, which could make companies hesitant to invest,” Tokura said. Japan is home to Toyota, the world’s top-selling carmaker, and the health of the auto industry affects many sectors, from parts manufacturing to steel and microchips.
Cars and other vehicles accounted for about a third of the country’s 2.13 trillion yen ($145 billion) in U.S. exports in 2024.
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