15% reciprocal tariff, not inferior to the EU and South Korea, avoidance of 25% will be a huge blow to the economy, and support is urgently needed

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The Trump administration is raising tariffs on imports from Japan, increasing the rate from 10% to 15% starting August 7. Although the U.S. had threatened to raise it to 25%, that higher increase was avoided. The new 15% rate matches tariffs on imports from the European Union and South Korea, so Japan’s competitive position won’t be hurt compared to those regions.

However, since many products will face higher tariffs, the impact on Japan’s economy will grow. Expanding support for small and medium-sized businesses is becoming urgently needed.