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U.S. Maintains Tariffs on Japanese Steel, Aluminum

(MENAFN) The United States will keep its 50% tariffs on Japanese steel and aluminum intact for now, Japan’s government confirmed Wednesday, even as the two nations finalized a sweeping trade pact encompassing new tariffs and a massive investment from Tokyo.

Speaking at a press briefing in Tokyo, Chief Cabinet Secretary Yoshimasa Hayashi clarified that the steel and aluminum tariffs were not included in the recent agreement announced by US President Donald Trump. However, Hayashi noted that discussions on these duties would continue, stating there would be “a robust discussion” between the two sides “going forward for steel and aluminum and a series of tariff measures.”

As part of the deal, Japan will impose 15% reciprocal tariffs on various US products. In a statement on Truth Social, Trump revealed that Japan would inject “$550 Billion Dollars into the United States, which will receive 90% of the Profits.”

The agreement spans several critical sectors, including automobiles, trucks, rice, and key agricultural exports. Trump said the deal would result in the creation of “hundreds of thousands of jobs.”

According to a Japanese public broadcaster, Tokyo is expected to boost its imports of American rice. Japan currently imports about 770,000 tons of tariff-free rice annually under its “minimum access” program.

“Regarding the rice minimum access framework and within the range, based on the supply and the demand situation of rice domestically, we will procure necessary amounts. For this, there was communication with the US side. Of course, sacrificing the agriculture sector is not something that we have discussed,” Hayashi said.

Trump also confirmed that the two countries are close to finalizing an agreement on liquefied natural gas (LNG) exports.

Japanese Prime Minister Shigeru Ishiba applauded the outcome, declaring: “This is the lowest figure ever negotiated by a country that has a trade surplus with the United States, and Japan won't be treated less favorably than other countries if tariffs are imposed in the future on goods important for economic security, such as semiconductors and medicines.”

Ishiba also outlined Japan’s investment plans in the US, identifying priority industries including “semiconductors, medicines, steel, shipbuilding, critical minerals, aviation, energy, cars and AI and quantum technology.”

He described the agreement as “a critical” step in enhancing Japan's economic security.

Originally, the US steel tariff rate was scheduled to rise to 25% starting August 1. Meanwhile, Japanese automobile exports to the US continue to be subject to a 2.5% base tariff, which remains unchanged.

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