Washington: U.S. President Donald Trump announced on Wednesday that his administration might enforce a 25 percent “reciprocal” tariff on Japan, suggesting potential challenges in finalizing a trade agreement with the country. The statement was made during a meeting at the White House with Bahrain’s Crown Prince and Prime Minister Salman bin Hamad Al Khalifa.
According to Yonhap News Agency, Trump indicated that the United States is nearing a trade deal with India, while trade discussions with Japan seem less certain. During the meeting, Trump mentioned, “I think probably, we’ll live by the letter with Japan,” highlighting the administration’s stance on the proposed tariffs.
Earlier, on July 7, Trump had sent letters to Japan, South Korea, and other nations, informing them of the reciprocal tariff rates set to be implemented on August 1. Analysts have predicted challenging trade negotiations between the U.S. and Japan, especially with the upcoming upper-house elections in Japan on Sunday, which may limit Tok
yo’s ability to concede to U.S. demands for increased access to its agricultural markets.
In addition to Japan, South Korea is also involved in trade discussions with the Trump administration. The talks aim to mitigate the effects of the proposed 25 percent tariffs and other sector-specific duties affecting steel, aluminum, and automobiles.