The Ministry of Industry of Japan reported that during the last meeting between the Minister of Industry of Japan and the US Secretary of Commerce, it was decided to start discussing the issue of additional US tariffs on imports of aluminum and steel from Japan.
The Ministry of Industry made this statement after the US announced at the end of last week that it would begin negotiations with Japan, which could contribute to the revision of these tariffs. Earlier in November, Japan asked the United States to cancel tariffs imposed by the Trump administration in 2018.
The US and the EU recently agreed to resolve a dispute over tariffs of 25% on steel and 10% on aluminum imposed by the US in 2018. This decision helped prevent a sharp increase in retaliatory tariffs from the EU.
When asked how Japan would react if the United States proposed a similar measure, the director of the Ministry of Economy, Trade and Industry of Japan noted that such a decision could be regarded as the abolition of additional tariffs.
Meanwhile, the Ministry of Industry of Japan announced that the United States and Japan have approved the creation of the Japan-US Trade and Industrial Partnership (JUCIP), which will aim to cooperate, as well as increase the competitiveness of the industry and supply chains.