November 15 – Japan and the United States agreed to start discussions at a bilateral meeting in Tokyo to resolve the issue of additional tariffs imposed by the United States on steel and aluminum imported from Japan, the Ministry of economy, industry and Trade said on Monday.
Minister of economy and industry Guangyi Morida and U.S. Secretary of Commerce Gina Raimondo held the meeting, but an official of Japan’s Ministry of economy and industry said that the two sides did not discuss specific measures or set a negotiation date.
The United States said on Friday that it would hold talks with Japan on steel and aluminum import tariffs, which may be relaxed. This is a long-term crux of bilateral trade relations.
Earlier this month, Japan asked the United States to cancel the tariffs imposed by the former US President trump administration in 2018 under “Article 232″.
“Japan once again asked the United States to completely solve the problem of additional tariffs in a manner consistent with the rules of the World Trade Organization (WTO), as Japan has been asking since 2018,” said Hiroyuki hatada, an official of the Ministry of economy, industry and trade.
The United States and the European Union have recently agreed to end the ongoing dispute caused by former US President Trump’s imposition of steel and aluminum tariffs in 2018, removing a nail in Cross Atlantic relations and avoiding the surge of EU retaliatory tariffs.
The agreement will maintain the 25% and 10% tariffs on steel and aluminum respectively imposed by Article 232 of the United States, and allow a “limited number” of EU produced metals to enter the United States duty-free.
Asked how Japan would react if the United States proposed similar measures, hatada said, “as far as we can imagine, when we talk about a complete solution to the problem in a way consistent with the WTO, we are talking about the elimination of additional tariffs.”
The Ministry of economy, industry and Trade said that the two countries also agreed to establish a Japan US business and industrial partnership (jucip) to cooperate in strengthening industrial competitiveness and supply chain.
Post time: Nov-22-2021