Japan on Wednesday expressed its regret for not being exempted from the new 25% U.S. tariffs on steel and aluminum. Top government spokesperson Yoshimasa Hayashi stated that these widespread measures pose a significant risk to the Japan-U.S. economic relationship, potentially impacting not only bilateral trade but also the global trade system. 
The tariffs, which came into effect at midnight U.S. time, have stirred concerns as Japan exported 31.4 million tonnes of steel in 2024, including 1.1 million tonnes to the United States. While these products account for around 4% of U.S. steel imports, Hayashi emphasized that Japanese steel and aluminum are known for their high quality and essential role in strengthening U.S. manufacturing.
During recent discussions, Economy, Trade and Industry Minister Yoji Muto highlighted that Washington values its relationship with Japan, noting the importance of Japanese investments and the positive impact on U.S. employment. With Japan being home to top brands like Toyota, whose vehicles form roughly one third of the nation's U.S.-bound exports valued at 21.3 trillion yen in 2024, the stakes for both economies remain high. 
As talks continue, many are watching closely how this trade tension could reshape international market dynamics. Stay tuned for more updates on this evolving story that impacts global trade and everyday industry!
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Japan says U.S. tariffs risk impacting their bilateral economic ties
cgtn.com
