Japan Urges US to Lift Tariffs Following Financial Market Turmoil

In a significant move, Japan's top currency diplomat, Masato Kanda Mimura, highlighted the urgent discussions held on Wednesday to tackle the financial market instability caused by the US's recent imposition of global tariffs, which included a 24% levy on Japanese goods.

Speaking to the press, Mimura emphasized Japan's stance, stating the country would "strongly urge" the US to grant Japan an exemption from these tariffs. He underscored the necessity for currency movements to remain stable, reflecting true economic fundamentals. Furthermore, Mimura revealed ongoing dialogues with the US Treasury, advocating for enhanced cooperation during these unpredictable times.

This development follows Japanese Prime Minister Shigeru Ishiba's agreement to initiate trade negotiations with Washington, marking a pivotal step towards resolving the tariff dispute.