Japan Trade Minister Muto has spoken with US Commerce Secretary Lutnick

Japan Trade Minister Muto:

• Held online meeting with US Commerce Secretary.

• Told US Secretary new US tariffs would bring negative impact on US economy as well.

• Told US counterpart new tariffs announcement is “extremely regrettable.”

• Need to analyse content and examine impact on Japan economy.

• Will ask US strongly to exempt Japan from tariff measures.

• Will establish task force to provide information and grasp the impact.

• Share strong concerns whether US tariff measures are in line with WTO agreement.

• US Commerce Secretary asked me to look into the details of new tariff measures during our call.

• Told US counterpart tariff measures are not beneficial for both Japan and US.

• Will consider various options for what is best for Japan.

• Told us counterpart that tariff measures could discourage Japan companies’ US investment

This article was written by Eamonn Sheridan at www.forexlive.com.