Economy 04-06-2018

Japan considers the US trade policy "painful"

US trade tariffs imposed on its closest allies could have a "serious impact" on relations and the world trading system, the Japanese government said Monday describing the situation as "extremely deplorable."

Washington found itself isolated at a meeting of the finance ministers of the G7 that was held in Canada over the weekend to address the issue of its tariffs on steel and aluminum. Tokyo held an unusually strong speech to criticize the trade policy of President Donald Trump's government.

"It is extremely deplorable that the situation has not improved even after Japan explained its concerns to the United States at various levels," government spokesman Yoshihide Suga said.

The relationship between Tokyo and Washington until now close allies has been affected by recent trade disagreements after the United States refused to give Japan a tariff exemption which went into effect on Friday.

"The trade measures of the US government citing its security worry us that they may disturb the global market" Suga told reporters.

"In addition to that, we believe that it can have a serious impact on economic cooperation between Japan's allies and the United States and in general on the multilateral trading system under the rules of the WTO (World Trade Organization)."

The trade dispute has overshadowed the relationship between Prime Minister Shinzo Abe and US President Donald Trump who had forged close ties.

Last month Japan informed the WTO that it is willing to take retaliatory action following the US decision and considered that it has "the right" to impose customs duties on US goods in the amount of 50 billion yen (about 340 million yen). million dollars) which is equivalent to the impact of the tariffs approved by the US administration.


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