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Yoshimasa Hayashi, Japan’s Chief Cabinet Secretary (Photo = Yonhap news) |
[Alpha Biz= Kim Jisun] The Japanese government announced on Wednesday that it has requested an exemption from U.S. tariffs on steel and aluminum proposed by former President Donald Trump.
During Trump’s first term, South Korea secured a tariff-free quota through bilateral negotiations, coupled with a revision of the Free Trade Agreement (FTA). With similar negotiations expected this time, observers are watching closely to see if defense cost-sharing will become part of the talks.
At a regular press conference, Japan’s Chief Cabinet Secretary Yoshimasa Hayashi revealed that on February 11 (U.S. time), and February 12 (Japan time), the Japanese Embassy in Washington formally requested that the U.S. government exclude Japan from the tariffs.
Hayashi stated, “Japan will thoroughly assess the details and impact of the tariff measures and will respond appropriately.”
Prime Minister Shigeru Ishiba also addressed the issue during a session at the House of Councillors (Upper House), saying, “There were no discussions on this matter during the U.S.-Japan summit. We will carefully investigate the content and impact of the measures and will work to persuade the U.S. to exclude Japan from the tariffs.”
In 2018, the Trump administration imposed tariffs of 25% on steel and 10% on aluminum imports under the Trade Expansion Act. However, exemptions were granted to key trade partners like Canada and Mexico, while South Korea accepted an annual export quota limiting its steel shipments to 70% of the previous volume.
Later, the Biden administration agreed in 2022 to exempt Japanese steel products from tariffs up to an annual import volume of 1.25 million tons.
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
