On September 7th, new “reciprocal tariff” rates from the Trump administration in the US were applied to about 70 countries and regions, including Japan. The tariff rates are 15% for countries like Japan, the European Union (EU), and South Korea, 10% for the UK, and as high as 41% for Syria.
Japan’s Minister for Economic Revitalization, Mr. Akazawa, who was visiting the US, met with US Commerce Secretary Ross on September 6th for about 90 minutes in Washington before the new rates were implemented. They discussed confirming and ensuring the fulfillment of special measures related to reciprocal tariffs and the reduction of tariffs on cars as per the US-Japan agreement. It was Akazawa’s ninth visit for tariff discussions and the first since the US-Japan agreement on July 22nd.
According to a US Federal Register document dated September 6th, the US is granting special measuresThe Trump administration’s new “reciprocal tariffs” went into effect on the morning of the 7th (at 12:01 AM in the US, 1:01 PM in Japan) for about 70 countries and regions, including Japan. The tariff rates are 15% for Japan, the European Union, and South Korea; 10% for the UK; and as high as 41% for Syria.
On the 6th, Economic Revitalization Minister Akazawa, who was visiting the US, held a roughly 90-minute meeting in Washington with Commerce Secretary Lartig. They reviewed the details of their bilateral agreements, including special conditions for the reciprocal tariffs and reducing auto tariffs, and called for their steady implementation. This was Akazawa’s ninth visit to the US to discuss tariffs and the first since Japan and the US reached an agreement on July 22.
According to a document published in the US Federal Register on the 6th about reciprocal tariffs, the US will apply special conditions only to the EU, excluding Japan. As a result, there is a possibility that rates higher than the agreed-upon 15% could be imposed on certain items starting the 7th. Akazawa urged for a quick revision and also discussed the early reduction of auto tariffs, for which no implementation timeline has been provided.
The reaction from the US side is unclear. Akazawa plans to stay until the 8th to continue discussions with US officials.
by MagazineKey4532