Trump threatens Tokyo with customs duties of up to 35% economy

He threatened the American President Donald Trump Imposed Customs It reaches 35% on Japan’s imports to the United States, in the event that a trade agreement is not reached between the two countries before the deadline specified on July 9.

Japan had previously subjected to 24% fees as part of what Trump described as “liberation day” announced on April 2, when he imposed high trade taxes on most of the United States trade partners. But those fees were later reduced to 10% temporarily for a period of 90 days, with the aim of giving these countries an opportunity to negotiate with Washington.

However, Trump assured reporters on the Air Force One on Tuesday that he does not intend to extend the deadline, saying: “We have dealt with Japan. I am not sure that we will reach an agreement. I doubt that.”

The statements come at a time when the ministerial negotiations between the two countries have so far failed to reach an agreement.

At a press conference held in Tokyo today, Wednesday, the Japanese government refused directly to Trump’s threats.

“We are aware of what President Trump said, but we do not comment on every statement issued by an official in the US government,” said Kazuiko Ouki, Vice -President of the Council of Ministers.

He added, “We intend to proceed with bilateral talks with a friendly approach and construction towards reaching an agreement that benefits Japan And the United States“.

The end of the deadline approaches

Most of the Japanese exports of the United States are currently undergoing customs duties by 10%, and fees are imposed by 25% on cars and Japanese spare parts, in addition to 50% on steel and aluminum imports.

And while you seek Washington To impose a new trade agreement, Yoshimasa Hayachi, the Secretary -General of the Japanese government, stressed that “concessions will not be made harmful to the interests of Japanese farmers in order to make a deal with Washington.”

In a publication posted on his “Truth Social” platform, Trump criticized the Japanese import policy, accusing Tokyo of “refusing to import American rice despite suffering from a severe shortage of supplies.” He added: “To show the extent of other countries at the expense of the United States, let me say that I respect Japan a lot, but they do not import our rice, even though they suffer from a huge shortage in it.”

The Trump administration has announced its intention to sign 90 commercial agreements during the fee suspension period, but that Britain It was the only country that has concluded an actual agreement so far.

With the end of the deadline, a new commercial escalation is waving on the horizon between two economic powers, which threatens tensions that may affect global supply chains, especially in the auto and electronics sectors, where Japan occupies a vital location as a major exporter of American markets.

The Japanese Stock Exchange drop

In the Japanese Stock Exchange dealings, the index continued its decline today, but slightly after it lost more than 1% its market value on Tuesday, as the investors yesterday and today sold the shares amid a state of blurring about commercial talks between the United States and Japan.