04/14/2025April 14, 2025
Japan PM warns US tariffs could disrupt global economic order
Japanese Prime Minister told the country’s parliament on Monday that US tariffs have the potential to disrupt the world economic order and that the nation must seek common ground with the US.
“I am fully aware that what’s happened so far has the potential to disrupt the global economic order,” Ishiba told the parliament.
“In negotiating with the United States, we need to understand what’s behind Trump’s argument both in terms of the logic and the emotional elements behind his views,” he said.
The leader added that the government was not looking to issue a supplementary budget at the moment but will remain ready to cushion the economic blow from Trump’s tariffs.
On Thursday, Tokyo and Washington will start bilateral trade talks which will also cover tariffs and non-tariff barriers to exchange rates. The talks are likely to happen between Japanese Finance Minister Katsunobu Kato and US Treasury Secretary Scott Bessent.
Economic Revitalization Minister Ryosei Akazawa will also visit Washington for the negotiations this week, Prime Minister Shigeru Ishiba told lawmakers.
“As some tariffs have already taken effect, Japanese companies’ profits are being cut day by day,” Akazawa said in parliament on Monday.
“The sooner (the issue is addressed), the better,” he said. “I will do my best, bearing in mind what’s best for our national interests and what is most effective,” he said.
Japan is facing a 24% tariff on goods exported to the US, along with a 25% tariff on automobiles which took affect in April.
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