Tokyo: Japanese Prime Minister Shigeru Ishiba reiterated on Sunday, May 11 that he will aim for the elimination of all prices in trade negotiations with the United States.
Speaking on a Fuji television program, Ishiba said that “discussions have gradually met” and that Tokyo's relationship with US President Donald Trump is “surprisingly good”.
However, Ishiba said that Washington's agreement with LondonAnnounced Thursday, which reduces prohibitive tasks on British cars exports while keeping a reference rate of 10% in place, was “a model” for trade agreements “, but we have to tariffs 0%”.
By saying that high automotive imports would make cars more expensive for American consumers, Ishiba added: “For the good of the American economy, should these prices not be lowered?”
Trump said on Friday that the United States will maintain a 10% reference rate on imports, even after commercial transactions are concluded, adding that there may be exemptions when countries offer significant commercial conditions.
Currently, Japan faces a 25% levy from economically crucial automotive exports to the United States, and a reciprocal rate of 24% on other Japanese products.
In terms of support for the domestic economy, Ishiba said the government should carefully think about an abusive reduction in consumption tax.
“If we suddenly lower consumption tax, what happens to the country's finances?” He said.
“We have to think if there are no other ways that we can help those who really need it.”
