TOKYO - Japan on Tuesday expressed its regret over US President Donald Trump's decision to impose a 25-percent tariff on Japanese goods from Aug 1, while stressing that bilateral negotiations will continue, local media reported.
Japan's chief tariff negotiator Ryosei Akazawa spoke with US Commerce Secretary Howard Lutnick over phone for about 40 minutes on the day and expressed his country's disappointment, Kyodo News reported.
Japan will continue to seek an agreement that is acceptable to both countries, Akazawa told reporters after the phone call, while pledging to ramp up bilateral talks to reach a mutually beneficial "package" deal by the extended deadline of Aug 1.
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The new rate of 25 percent, slightly higher than the 24 percent "reciprocal tariff" initially announced for Japan on April 2, will be imposed separately from sectoral tariffs currently in place, which include a 25-percent duty on vehicles and auto parts and 50 percent duties on steel and aluminum.
Trump announced the new tariff rate in a letter to Japanese Prime Minister Shigeru Ishiba released on social media. He also warned that any increases to tariffs on US goods will be met with an equivalent tariff hike by his administration.
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At a tariff task force meeting earlier in the day, Ishiba said that Trump's latest decision was "truly regrettable," noting that bilateral negotiations will continue toward a mutually beneficial deal.
"We will continue to engage in negotiations with the United States to explore the possibility of reaching a mutually beneficial deal while protecting our national interests," Ishiba told the meeting.
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Bilateral tariff negotiations, including a face-to-face summit, have not resulted in substantive progress. The two countries were believed to remain apart over autos, given impacts on both economies, the report said.
Akazawa said Tuesday there will be no package deal without an agreement on the auto sector.