Japan's Economic Maneuver Against U.S. Tariff Threats

Japanese Prime Minister Shigeru Ishiba is actively seeking an exemption from U.S. auto tariffs to protect Japan's economy. The planned 25% tariff could severely hit Japan, an export-reliant nation. The government is considering measures, including financial support for firms, to mitigate potential economic impacts.

Japan's Prime Minister Shigeru Ishiba has launched an aggressive campaign to secure an exemption from looming U.S. auto tariffs, pledging necessary interventions to shield the economy and preserve jobs. The potential 25% tariff could heavily impact Japan's export-driven economy.

To counter the economic consequences, Ishiba indicated potential government support for financially struggling companies. This comes as the Japanese government prepares to negotiate specific measures with its ruling coalition to counter hefty levies should the tariffs be imposed.

Concerned about dwindling domestic approval ratings, Ishiba voiced readiness to engage directly with U.S. officials. With inflation at 3.7%, influenced by rising food costs, the campaign includes plans to heighten minimum wages and facilitate cost transfers to smaller businesses.

(With inputs from agencies.)