Higher US tariffs could mean recession, deflation for Japan
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Asahi Shimbun
an hour ago
- Asahi Shimbun
Trump leaves Japan dangling in negotiations on tariff increase
Japan was set to dispatch its chief tariff negotiator to the United States for an eighth round of ministerial-level talks but called it off after being forced into a waiting game by the White House. Japanese officials were optimistic that the reciprocal tariff of 14 percent announced by U.S. President Donald Trump in April could be negotiated. Washington later said additional tariffs would not be implemented until July 9 while it negotiated with its other trade partners. Japan leapfrogged over other nations to enter negotiations on a range of tariffs and Ryosei Akazawa, as special envoy for Prime Minister Shigeru Ishiba, made seven trips to the United States to haggle. Akazawa was initially expected to make another trip to Washington this weekend, but the trip was put on hold after Trump said July 4 his administration would be sending out letters to the nations on its tariff list that indicated levies of up to 70 percent could be tacked on because negotiations had not led to an agreement. But he did not state whether a letter would be sent to Japan, leading a high-ranking official handling economic issues to say: 'We have no idea when such a letter may arrive or even if it will arrive. We must prepare while thinking about every and all possibilities.' Trump has upped his criticism of Japan in recent days, griping that it was not buying enough U.S. cars or rice. A government source said U.S. officials likely did not want to see negotiations broken off, particularly in the manner of a letter sent in the mail, but added that there was nothing the government could do if Trump decided he wanted additional tariffs implemented.
Japan Times
an hour ago
- Japan Times
Government to release stockpiled rice for processed foods from August
Agriculture minister Shinjiro Koizumi has said that the government will release its stockpiled rice for use in processed foods and beverages such as miso, rice crackers, sake and shōchū distilled spirits, starting in August. The rice is planned to be sold to businesses under discretionary contracts. Details including the amount of rice to be released will be decided later. The move comes after the government released its stockpiled rice to retailers and others to curb soaring prices of the staple food. A recent survey showed that the 2025 acreage for staple food rice was the largest in five years as of the end of April. As the 2025 rice crop for processed products is expected to decrease, people including those in the sake brewery industry have been calling for the release of government-stockpiled rice for them by around mid-September, when the brewing process starts. Stay updated on Japan's rice crisis. Quality journalism is more crucial than ever. Help us get the story right. For a limited time, we're offering a discounted subscription plan. Unlimited access US$30 US$18 /mo FOREVER subscribe NOW Businesses "need an outlook as soon as possible," Koizumi told reporters at the agriculture ministry. The government will decide the amount of rice to be released after carefully examining the size of planting areas of rice for processed products. It plans to use the portion of government-stockpiled rice that has been decided to be released to retailers under discretionary contracts but has remained unsold.
NHK
an hour ago
- NHK
Trump signs tariff letters to be sent out to 12 countries on Monday
US President Donald Trump says he has signed a set of letters to be sent to 12 countries notifying them of the tariff rates they will face on their exports to the United States. Speaking to reporters on Friday, Trump said, "I signed some letters to go out for on Monday, probably 12 different amounts of money, different amounts of tariffs and somewhat different statements." He declined to say which countries will receive the letters. Earlier on Friday, Trump said his administration would "probably have 10 to 12 letters" go out first, followed by more over the next few days. He also said he thinks "they will be fully covered" by Wednesday. Trump said the tariffs will range in value "from 60 or 70 percent to 10 or 20 percent", and that the countries will start to pay the levies on August 1. The Trump administration is expected to continue last-minute negotiations with its trade partners as the pause in what it calls reciprocal tariffs is due to expire on Wednesday.
