Trump threatens Japan with tariff up to 35% as deadline looms
Summary
Former U.S. President Donald Trump has threatened to impose tariffs of up to 35% on Japan if the two countries do not reach a trade agreement by a set deadline next week. Current tariffs on many Japanese goods, including vehicles and parts, already apply, with some products facing tariffs as high as 50%.Key Facts
- Trump has threatened tariffs of up to 35% on Japan if there's no trade agreement by next week.
- The deadline for reaching a trade agreement is 9 July.
- Tariffs on Japanese exports to the U.S., such as vehicles and parts, currently stand at 25%, with some goods like steel and aluminum facing a 50% tariff.
- Trump doubts an agreement will be reached with Japan by the deadline.
- Japan's chief cabinet secretary, Yoshimasa Hayashi, stated Japan wouldn't make concessions that harm its farmers.
- Trump criticized Japan for not importing U.S. rice despite having a rice shortage.
- Trump planned to sign 90 trade agreements during a previous tariff pause, but only the UK has completed a deal with the U.S.
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