Japan PM expresses hope over averting tariffs after meeting Trump

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Japan PM expresses hope over averting tariffs after meeting Trump

Japanese Prime Minister Shigeru Ishiba on Sunday voiced optimism that Japan could avoid higher US tariffs.

Ishiba said US President Donald Trump has recognised Japan’s huge investment in the US and the American jobs that it creates.

Ishiba, at his first White House summit, explained to Trump how many Japanese automakers were creating jobs in the United States.

Although, the two leaders did not specifically discuss auto tariffs, Ishiba said he did not know whether Japan would be subject to the reciprocal tariffs that Trump has said he plans to impose on imports.

Waploaded reports that Tokyo has so far escaped the trade war Trump unleashed in his first weeks in office.

Recall that Trump has announced tariffs on goods from Canada, Mexico and China, although he postponed the 25% duties on his North American neighbours to allow for talks.

The escalating trade tensions since Trump returned to the White House on January 20 threaten to rupture the global economy.

Ishiba, however, expresssed belief that Trump recognised the fact that Japan has been the world’s largest investor in the United States for five straight years, and is therefore different from other countries.