Japan regrets over Washington’s decision to impose tariffs on steel and aluminum

Japanese Finance Minister Katsunobu Kato expressed his regret over the United States’ decision to impose tariffs on all steel and aluminum imports, stressing the importance of adhering to global trade rules.

In remarks made after a virtual meeting of G7 finance ministers, Kato explained that industrial policies, including tariffs, must be based on international rules to ensure market predictability.

According to Kyodo News, the minister indicated that the G7 will continue to lead the free and rules-based international economic order, in light of the challenges posed by US President Donald Trump’s trade policies, which include raising steel and aluminum tariffs by 25%, along with plans to increase tariffs on imported cars.

He confirmed that Japan will engage in serious talks with the United States to discuss these measures and their potential repercussions for the Japanese economy.