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Japan's trade minister expressed strong regret over the US's new tariffs, including a 24% levy on Japanese imports, during discussions with US Commerce Secretary Howard Lutnick. He emphasized the negative impact these tariffs could have on the US economy and urged for cooperation without reliance on tariffs. Concerns were also raised about the potential violation of World Trade Organization rules and the Japan-US trade agreement.
Japan's core inflation eased to 3.0% in February, down from 3.2% in January, driven by government subsidies for utilities and a decline in fresh food prices. Despite this deceleration, inflation remains above the Bank of Japan's 2% target, with rice prices soaring 81% year-on-year. The government is taking measures to alleviate the impact of rising costs on households, while underlying inflation suggests potential interest rate hikes in the near future.
Japan's top government spokesman, Hayashi Yoshimasa, expressed regret over the country's exclusion from US steel and aluminum tariff exemptions. He warned that this decision could significantly impact the economic relationship between Japan and the United States.
Japan's top government spokesman, Hayashi Yoshimasa, expressed regret over the country's exclusion from US steel and aluminum tariff exemptions. He cautioned that this decision could significantly impact the economic relationship between Japan and the United States.
Yoshimasa Hayashi
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