Japan Calls for Tariff Exemption Following US Decision

Japan's top currency diplomat, Masato Kanda Mimura, highlighted the concerns over recent financial market volatility during a meeting on Wednesday. This instability was triggered by the United States' imposition of global tariffs on April 2, which included a 24% tariff on Japanese goods.

Diplomatic Efforts and Trade Negotiations

In discussions with the press, Mimura emphasized Japan's stance to "strongly urge" the US for an exemption from these tariffs. He pointed out the necessity of stable currency movements that reflect economic fundamentals. Additionally, Mimura confirmed that Japan is in continuous dialogue with the US Treasury, advocating for mutual cooperation during these uncertain times.

This development comes as Japanese Prime Minister Shigeru Ishiba agreed to initiate trade negotiations with Washington, marking a pivotal moment in US-Japan trade relations.