Tariffs imposed on Japanese goods by the administration of US President Donald Trump are a “national crisis”, Prime Minister Shigeru Ishiba said on Friday that he prepared a cross-party talks on reducing the effect.
The Japanese firm is the largest investor in the United States, but Trump on Thursday announced a 24 percent levy on imports from Washington collaborate.
PM Ishiba said in Parliament, “Levi” can be called a national crisis and the government is performing its best with all parties “, PM Ishiba said in Parliament.
He, however, called for a “quiet-oriented” approach to interact with Trump’s administration, which also imposed 25 percent tariffs on auto imports which came into force this week.
Government spokesperson Yoshimasa Hayashi told reporters that PM Ishiba on Thursday called his ministers “to study Tariff closely and” to take all measures including financing support “and” to take all measures “.
Hayashi said on Friday, “As it is necessary for all the parties, including the opposition block, they will study and measure, Prime Minister Ishiba will meet with each of the party leaders and listen to their opinion” Later, in the day, Hayashi said.
The objective of the meetings of PM Ishiba along with party leaders is to formulate the basis for the supplementary budget bill, as their minority government needs cooperation from the opposition to pass it in Parliament, the Asahi Shimbun Daily said.
On Friday, Hayashi reiterated that Trump’s broad new tariffs are “extremely regrettable” and Japan has “serious concerns” about whether they follow the rules of the World Trade Organization and the US-Japan trade agreements.
Hayashi said that PM Ishiba has directed its ministers to “review the tariff measures”, demanding “strongly demanding the United States.
Japan’s main Nikkei 225 index fell more than three percent on Friday, adding a decline of 2.7 percent on Thursday after S&P 500 on S&P 500 on Wall Street since 2020.
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