Japanese trade minister Koichi Hagiuda has asked the USA to exempt Japan from Section 232 tariffs on steel and aluminium imports, according to the Ministry of Economy, Trade and Industry (Meti). This follows the recent signing of the US-EU trade deal.
US commerce secretary Gina Raimondo will visit Japan, Singapore and Malaysia from 15 November to reaffirm US commitment and strengthen economic ties with allies and key partners, the government said last Sunday. On the same day, US trade representative Katherine Tai will arrive in Tokyo.
It is expected two US officials will discuss with Japanese officials a possible review of the USA’s 25% tariffs on steel imports and 10% tariffs on aluminium imports. These are the so-called Section 232 tariffs introduced by the administration of former US President Donald Trump, Kallanish notes.
Hagiuda says these measures are having a devastating effect, and he has asked the US to take action. The Japan Iron and Steel Federation said on 2 November that the recent agreement between the US and EU will result in a comprehensive relaxation of measures in the form of a tariff-free quota for EU steel. The steel industry of Japan, which he notes is an ally of the US, will be put behind the EU in terms of export competitiveness to the US.
By Kallanish Team
