Latest news with #ComprehensiveResponseHeadquarters
Time of India
5 days ago
- Business
- Time of India
Trump tariffs: Japan PM says will aim for deal to benefit both countries; vows to protect 'national interests'
Japanese PM Shigeru Ishiba (left) and US President Donald Trump (PTI) Following US President Donald Trump's announcement of 25 per cent tariffs on goods from Japan and South Korea, Japanese Prime Minister Shigeru Ishiba on Tuesday said his government would hold discussions with the United States for a deal which to benefit both the countries. However, Ishiba asserted that Japan's national interests would not be compromised. "I chaired the Comprehensive Response Headquarters for US Tariff Measures. Towards the new deadline of August 1, the government will act with unity to engage in Japan-US consultations and aim for an agreement that will benefit both countries," the PM's Office quoted Ishiba as saying. "...while protecting our national interests to ensure that we pursue what should be pursued, and protect what should be protected by refraining from making hasty decisions. We will also take every possible measure to mitigate the impact on domestic industries and employment," he added. — JPN_PMO (@JPN_PMO) Earlier, Trump cited persistent "trade imbalances" with Japan and South Korea to impose tariffs on America's two crucial allies in Asia. The US president posted letters on his Truth Social platform addressing the leaders of both countries. The letters warned them to not retaliate by increasing their own import taxes, or else Washington would increase import taxes that could damage the auto and electronics sectors of the Asian powerhouses. 'If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25 per cent that we charge,' Trump wrote in the letters to Ishiba and South Korean President Lee Jae-myung. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yomiuri Shimbun
25-04-2025
- Business
- Yomiuri Shimbun
Japan Accelerates Financial Assistance for Businesses; Working to Handle Growing Concerns Over Tariffs
Yomiuri Shimbun file photo The Prime Minister's Office The government decided on an emergency response package aimed primarily at supporting small and medium-sized enterprises affected by tariff measures imposed by the administration of U.S. President Donald Trump. This was concluded at the third meeting of the Comprehensive Response Headquarters for U.S. Tariff Measures held at the Prime Minister's Office on Friday. Given concerns over a potentially serious impact on the domestic economy, the package includes support measures for small and medium-sized enterprises, specifically targeting cash flow assistance and employment retention, as well as initiatives to stimulate consumption. Prime Minister Shigeru Ishiba said U.S. tariffs could 'fundamentally alter the free and fair economic order,' and instructed ministers to 'actively pursue concrete and effective utilization [of the package] tailored precisely to the needs of businesses.' The emergency package includes establishment of consultation centers for affected businesses and exploration of lowering interest rates through government-affiliated financial institutions to aid companies impacted by tariffs. Additionally, financial institutions will be requested to provide repayment deferral programs and loan term adjustments. Procedures for employment adjustment subsidies, which finance employee leave allowances, will also be expedited. Economic revitalization minister Ryosei Akazawa, who is in charge of negotiations, is scheduled to visit the United States starting Wednesday to hold a second round of talks with U.S. representatives over the issue of tariffs. Ishiba emphasized the importance of 'strongly requesting a review,' urging close coordination and thorough preparations to achieve results beneficial to both Japan and the United States.
