Japan PM says Trump’s tariff decision ‘truly regrettable’

Japan’s Prime Minister Shigeru Ishiba said on July 8, US President Donald Trump’s decision to impose a 25 per cent tariff on Japan is “truly regrettable”, adding bilateral talks will continue toward a mutually beneficial deal.

Despite the decision, which was conveyed to Japan in a letter, Ishiba said the tariff rate is lower than what Trump threatened and opens the way for future bilateral negotiations.

Speaking during a tariff task force meeting, Ishiba said the government will not waver in its defence of national interests in future rounds of talks, pledging to do all it can to mitigate the impact of the imminent tariff hike on the export-oriented Japanese economy.

“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 said during the meeting.

Bilateral tariff talks, including a face-to-face summit, have not resulted in substantive progress.

While Trump has turned to tariffs to fix what he sees as imbalanced trade, a 25 per cent levy on imported cars has been seen as especially detrimental to Japan, which relies heavily on the likes of Toyota Motor and Honda Motor.

“Unfortunately, we have yet to reach an agreement as there are differences between us. Japan has been avoiding making easy concessions while demanding and protecting what is needed,” Ishiba said.