When United States President Donald Trump announced his latest tariffs on steel and aluminium this week, he insisted there would be “no exemptions, no exceptions”.Washington’s closest allies in the Asia-Pacific are hoping that they will be able to change the mercurial US president’s mind.
Japan, South Korea and Australia, US treaty allies with export-reliant economies, have all confirmed that they are seeking exemptions from Trump’s 25 percent tariffs on steel and aluminium.
Trump has pledged to follow up on the measures against imported steel and aluminium with broader reciprocal tariffs, which could potentially cover a far wider range of goods, on countries that impose levies on US exports as soon as Thursday.
“We will take necessary measures, including lobbying the United States for an exemption, while closely monitoring any possible impact on the Japanese economy,” Prime Minister Shigeru Ishiba, who met Trump in Washington last week, told parliament on Wednesday.
Tokyo’s efforts to sway Trump are likely to include commitments to increase US imports. Advertisement
The US trade deficit with Japan stood at about $70bn last year, mostly as a result of exports by Japanese automakers such as Toyota, Honda and Nissan.
Tokyo is also likely to highlight its importance as an ally in confronting China in the region and “its technical advantage, which is desperately needed by the US to take a lead in new strategic industries”, said Shigeto Nagai, the Asia head o …
