Japan’s Trade Minister Yoji Muto plans to visit the US in March and will seek exemptions from Trump administration plans to set import tariffs on steel and cars, the Asahi newspaper reported on Thursday (Feb 20).
Muto is arranging meetings with newly confirmed US Commerce Secretary Howard Lutnick, Energy Secretary Chris Wright and other top officials also to discuss plans to buy more American natural gas and Nippon Steel’s stranded bid to acquire US Steel, according to the report.
Japan has asked the US to exempt it from steel and aluminium tariffs, Muto said last week.
After US President Donald Trump’s remarks to put 25 per cent tariffs on car imports from April, officials said Tokyo has impressed upon Washington how important the car industry is to Japan’s economy.
Carmakers such as Toyota, Honda and Nissan and their suppliers employ more than 5 million people in Japan, representing some 8 per cent of the country’s workforce, according to a trade group.
The transport machinery sector, including cars, produces about 3 per cent of Japan’s GDP, the government said in a Wednesday report, highlighting the potential impact of tariffs.
Nearly 90 per cent of Japanese firms see Trump’s policies as harmful to their business environment, a Reuters survey of major Japanese companies found.
Muto aims to visit the US by Mar 12, when the 25 per cent tariffs on US imports of steel and aluminium are due to take effect, but the schedule is fluid depending on Japanese parliament budget sessions, Asahi reported, citing multiple unnamed government sources.
