Japan PM says Trump's tariff views hard to understand
TOKYO: Japanese Prime Minister Shigeru Ishiba stated on Friday that Donald Trump's stance on tariffs was 'difficult to understand' following the US president's announcement of 25% levies on imported cars and parts.
The duties, announced just weeks after Ishiba and Trump held seemingly amicable talks, have dealt a significant blow to Japan, one of Washington's closest economic and strategic allies. Japanese auto shares fell for the second consecutive day on Friday.
"What President Trump is saying is that there are both friends and foes, and friends can be more difficult. This is very difficult to understand," Ishiba remarked during a legislative committee session.
Trump, announcing the new vehicle tariffs—scheduled for next week—stated earlier this week at the White House that America's trade partners had been "taking our jobs, taking our wealth, taking a lot of things."
"They've taken so much out of our country, friend and foe alike. And frankly, friend has oftentimes been much worse than foe," he added.
The measures have sparked concern among US allies. Canada reacted angrily, with Prime Minister Mark Carney declaring that the era of close bilateral relations was "over," warning that the tariffs could devastate Canada's auto industry.
For Japan, Ishiba cautioned: "The impact this will have on the Japanese economy will be extremely significant. There is nothing to be gained by getting into a big fight over it. We will explain logically to Washington."
He added, "The point is to make them understand that imposing such high tariffs on Japan will not bring a special benefit to the United States." One in 10 Japanese jobs is tied to the automotive industry.
On Thursday, Ishiba mentioned that Japan was reviewing an "appropriate" response to the tariffs. Government spokesman Yoshimasa Hayashi also expressed concern, stating: "We believe that the current measures and other broad-based trade restrictions by the US government could have a significant impact on the economic relationship between Japan and the US, as well as on the global economy and the multilateral trading system."
Trump's decision has unsettled investors, who were already wary due to a series of other tariffs he has imposed, including on steel and aluminium. In afternoon trading, Toyota shares dropped 4.76% in Tokyo, Honda fell 4.77%, and Nissan declined 2.97%, extending Thursday's steep losses.
Meanwhile, top trade officials from South Korea, Japan, and China are set to meet in Seoul on Sunday to discuss economic cooperation, according to a government source.
By RSS/AFP
