Japan, Trump and Tariff
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Trump, tariffs and small countries
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For Americans who were awaiting the release of the Nintendo Switch 2, the delay of U.S. pre-orders for the gaming console this April was one indication of what’s to come.
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Agence France-Presse on MSNJapan's SMEs ready to adapt to Trump tariffsSmall and medium-sized firms like Mitsuwa Electric that form the backbone of Japan's economy have weathered many storms over the decades, and company president Yuji Miyazaki is hopeful they will also withstand Donald Trump.
Japan told Group of 20 countries that tariffs aren’t the right way to fix imbalances, and that countries facing such situations need to address them through domestic efforts, according to Finance Minister Katsunobu Kato.
Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S., even if the U.S. does move forward with its planned 25% tariffs on all Japanese exports.
Tokyo and Washington have yet to agree on tariff deal as US President Trump's announced deadline of Aug. 1 draws closer - Anadolu Ajansı
President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.
More than two-thirds of Japanese firms believe the government should compile an extra budget later this year to mitigate the impact of U.S. President Donald Trump's new tariffs and rising prices, a Reuters survey showed on Thursday.
President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S., informing them of their new tariff rates.
Japan has reported a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year as exports were hit by President Donald Trump's higher tariffs.
The cost of living, social insurance and demographic issues were far more important to them despite Japan being locked in a brutal trade war with the United States over high tariffs put into place and planned by U.S. President Donald Trump.