JAPAN CALLS US TARIFFS A "NATIONAL CRISIS," SEEKS SOLUTIONS
- DE MODE
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ORIGINALLY PUBLISHED IN DE MODE
Article Published on: 04TH APR 2025 | www.demodemagazine.com
Japanese Prime Minister Shigeru Ishiba condemned the US administration’s new tariffs on Japanese goods, calling them a "national crisis." President Donald Trump announced a 24% tariff on Japanese imports, alongside a 25% duty on automobiles, despite Japan being a key investor in the US.
Speaking in parliament, Ishiba urged for a calm and strategic response. He directed his cabinet to analyze the tariffs' impact and implement necessary support measures, including financial aid for affected industries. Government spokesperson Yoshimasa Hayashi stated that Ishiba would consult opposition leaders to gather support for a supplementary budget bill, crucial for mitigating economic damage.
Japan expressed "serious concerns" over the tariffs' WTO compliance and pledged to press the US for a review. The Nikkei 225 fell over 3% on Friday, deepening Thursday’s 2.7% decline, echoing Wall Street's worst drop since 2020.