To add insult to injury, Japan was lumped in with countries that are far less vital partners, including Kazakhstan and Myanmar.
While the threatened rates to be enacted on Aug 1 were different between countries, the copy-and-paste wording sent to the respective leaders was virtually identical, including telling Tokyo to open its “heretofore closed trading markets” – whatever that means.
MORE THREATS CHIP AWAY AT TRUST
The warning signs were there after Trump erupted last week. Overnight, it seemed, Japan went from being respected, or “tough”, in Trump parlance, to being “spoiled”. And while “Mr Japan”, as Trump seemingly dubbed Ishiba, may not have ended up with the 35 per cent tariffs once threatened, months of talks have only led to further threats.
In Seoul, recently elected President Lee Jae-myung might be feeling hard done by, too. His country is moving to address US concerns over non-tariff barriers, but has been hampered by the political turmoil prior to Lee’s election.
Japan might have thought it was getting the first-mover advantage Treasury Secretary Scott Bessent promised to countries that came to the negotiating table fast. Instead, an identical rate has been levied on both countries.
