US President Donald Trump signed an executive order on Thursday, increasing tariffs on imports from dozens of countries and regions, including Japan. The administration says the new rates will go into effect from Aug. 7.
The measure says the baseline tariff to be imposed on imports from Japan is 15 percent. That is the same rate that Japan and the US agreed on in their tariff negotiations last week.
Japanese officials said at the time that US levies on Japanese automobiles would be 15 percent. That number is based on cutting a 25-percent rate in half to 12.5 percent and adding an already-existing 2.5 percent levy. But the latest executive order makes no mention of this.
A uniform 10-percent tariff is currently being imposed on imports from Japan and other countries.
Under the executive order, tariffs that the Trump administration originally threatened to impose on many countries and regions are adjusted lower.
Japan’s top spokesperson to monitor new tariff’s effects
Japan’s top government spokesperson, Hayashi Yoshimasa, said on Friday he will continue to closely watch the effects of a new tariff rate on the country’s exports.
He said, “I’m expecting the president’s order and a series of agreements to reduce uncertainties surrounding US trade policies and lower downside risks to the Japanese and global economy.”
Hayashi said Tokyo will continue to ask Washington to promptly implement agreements affecting Japan’s auto industry. This includes lowering tariffs on vehicles and auto parts.
AloJapan.com