Japanese Prime Minister Shigeru Ishiba stated that Japan will continue urging U.S. President Donald Trump to reduce tariffs against Japan, though he admitted results may not come quickly. Ishiba emphasized the need for the government to implement measures to mitigate the economic impact of U.S. tariffs, such as providing financial support to domestic firms and safeguarding jobs. He described Trump’s decision to impose tariffs on Japanese imports as “extremely disappointing and regrettable,” asserting that Japan has not acted unfairly toward the U.S. Ishiba expressed willingness to visit the U.S. for discussions with Trump but noted the importance of preparing a package of steps Japan could offer. Analysts predict the tariffs could reduce Japan’s economic growth by up to 0.8%, while global recession fears have caused significant declines in stock prices worldwide.
— new from Reuters
