Exciting updates from Tokyo! Japanese Prime Minister Shigeru Ishiba reiterated his bold vision to eliminate all tariffs in trade negotiations with the United States. Speaking on a Fuji Television morning program, he noted that discussions are gradually coming together, and he praised the surprisingly good rapport with US President Donald Trump.
Ishiba compared the current trade model—illustrated by the recent US-UK deal that maintains a baseline 10% tariff on car exports—to what Japan aspires for: a 0% tariff scenario. He emphasized that high auto import levies (currently at 25% on key exports) not only boost prices for US consumers but also risk slowing economic momentum. 🚗
The remarks came as Trump confirmed that the US would keep a baseline 10% tariff on imports even after new deals, with possible exemptions if significant trade terms are offered. Ishiba's call for zero tariffs hints at a strategy to make trade more equitable and beneficial for both nations.
Turning to domestic concerns, Ishiba warned against a sudden reduction in the consumption tax, questioning its impact on national finances. He stressed the need for careful consideration to ensure that aid reaches those who are truly in need. 😎
As trade talks progress, Japan's ambition to drop all tariffs could signal a broader shift toward fairer and more fluid global trade, potentially influencing market trends far beyond its borders. Stay tuned for more on this evolving story!
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Japan PM Ishiba reiterates call to eliminate all tariffs with the US
cgtn.com
