Prime Minister of Japan: Trump’s decision on customs duties is “very unfortunate”

Shikiro Ishiba, Prime Minister, described the decision of US President Donald Trump to impose customs duties by 25% on Japanese imports as of the first of next August, as “very unfortunate.”

The Japanese Prime Minister said, during a meeting with the customs duties team today, that his country will continue bilateral talks with the United States to reach a useful trade agreement for both parties.

He added that the government will not hesitate to defend national interests in the future rounds of the talks, pledging to do everything in its power to alleviate the impact of the imminent increase in customs duties on the Japanese economy based on export.

This comes as US President Donald Trump announced the imposition of 25% customs duties on the imports of Japan and South Korea as of the first of next August, unless the two countries conclude new trade agreements with the United States before the specified date.

Trump added that the United States will impose customs duties by 32% on all imports from Indonesia, 30% on American imports from Bosnia, 35% on his country’s imports from Bangladesh and Serbia, 36 percent on all Cambodian and Thai exporting products, and 25% on imports from Tunisia, as of the first of next August.

The United States will also impose 25% fees on all imports from Kazakhstan and Malaysia, 30% on the United States exporting products from South Africa, and 40% on all imports from Laos and Myanmar, as of the first of August as well.