Japan Is Ready To Respond To US Tariffs

Forex News

The government of Japan is completing the preparation of a response to the introduction of the US import duties on steel and aluminum, in the near future they will be submitted to the World Trade Organization (WTO). The move is likely to be part of efforts to have Washington add Japan to a list of countries exempted from the tariffs, as Japan is the only major US ally that did not receive exemptions from Trump's tariff decision.

The public broadcaster NHK reports that Japan expects that the retaliatory measures will lead to the loss of the United States about $409 million, which is equivalent to the economic damage inflicted by import duties on steel and aluminum.

Thus, Tokyo follows in the footsteps of China and the European Union, which have sharply criticized the United States, despite the fact that the EU is a long-standing ally of the United States. At the same time, some representatives of the Japanese parliament do not deny that before going to the WTO they can negotiate with the American side.