Japanese authorities will hold consultations with business circles next week, in particular from the steel, aluminum and automotive industries, to discuss further steps in response to US President Donald Trump’s decision to impose high duties on imported goods, the country’s Minister of Economy, Trade and Industry, Yoji Muto, said during a press conference.
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On February 18, Trump signed a decree imposing duties of 25% on all steel and aluminum supplies to the country. He also noted that the introduction of mirror duties on US trading partners would be announced, and announced his intention to impose duties on cars “around April 2.”
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“When considering our retaliatory steps against additional US duties, it is important to take into account the opinion of the Japanese industry. Therefore, I decided to hold a meeting to exchange views with representatives of the steel, aluminum and automotive industries that may be affected (by duties),” the minister explained.
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According to Muto, such a meeting could take place as early as next week. At the same time, the minister refrained from commenting on a question from journalists regarding the possibility of retaliatory measures from the Japanese government.
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“At the moment, I will refrain from commenting on the introduction of retaliatory duties,” he stressed, adding that the introduction of retaliatory measures may entail changes in all further actions, so careful consideration of such steps is necessary.
