Japan’s Tactical Response to U.S. Tariff Clash

Japanese Prime Minister Shigeru Ishiba expresses disappointment over U.S. tariffs, stating Japan will request lower tariffs from President Trump. Despite acknowledging the challenge, Ishiba plans to protect the economy by supporting domestic companies. Economic ministers are urged to be vigilant as global recession fears loom.

Japanese Prime Minister Shigeru Ishiba announced plans to tackle the economic impact of U.S. tariffs, urging caution while negotiating with President Donald Trump for lower tariffs. Ishiba acknowledged the complexity of negotiations and emphasized the government's commitment to cushioning the economic blow.

Expressing disappointment in Trump's decision to impose tariffs, Ishiba assured parliament that Japan would continue to assert its fairness in trade with the United States. Eager to resolve tensions, Ishiba mentioned a willingness to visit the U.S. for direct discussions, backed by a strategic plan.

The tariffs, which include a 25% levy on auto imports and a 24% reciprocal tariff on other goods, threaten Japan's economy, potentially reducing growth by 0.8%. The global recession fears have already affected markets, with Japan's Nikkei average plummeting nearly 9%. Ishiba has instructed economic ministers to closely monitor and respond to market changes.

(With inputs from agencies.)