TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba said on Monday he told U.S. President Donald Trump in a telephone call that his tariff policies are extremely disappointing and urged him to rethink.
“I’ve told the President that Japan has been the biggest investor in the United States for five straight years and the tariff policies could hurt Japanese companies’ investment capabilities,” Ishiba told reporters after the call with Trump.
During the 25-minute call, the two leaders agreed to continue constructive dialogue on the issue and to appoint ministers in charge of the discussions, Ishiba said.
Meanwhile, Trump mentioned the call with Ishiba in a post on his social media platform, emphasising that the tariff parameters being set are “tough but fair”.
Ishiba “is sending a top team to negotiate,” Trump said in the post. “They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other ‘things’,” he said.
Trump’s decision to impose a 25% levy on auto imports, and a reciprocal 24% tariff on other Japanese goods, is expected to deal a huge blow to Japan’s export-heavy economy. Analysts predict the higher duties could knock up to 0.8% off economic growth.
(Reporting by Makiko Yamazaki; editing by Tomasz Janowski and Mark Heinrich)
