Japan trade minister calls for calm heads over U.S. tariffs

Image
Reuters BRUSSELS
Last Updated : Mar 10 2018 | 8:45 PM IST

BRUSSELS (Reuters) - Japan's trade minister sought an exemption from U.S. import tariffs on steel and aluminium on Saturday and called for "calm-headed behaviour" in a dispute that threatens to spiral into a trade war.

Minister Hiroshige Seko told a news conference his U.S. counterpart Robert Lighthizer had only explained the schedule and procedure of the U.S. actions in talks in Brussels. Seko said he believed there was still time for Japan to secure an exemption.

U.S. President Donald Trump signed an order on Thursday to set import tariffs of 25 percent on steel and 10 percent on aluminium, to come into effect in 15 days. But he exempted Canada and Mexico and held out the possibility of excluding other allies.

"We expressed our concern. It could disrupt the steel and aluminium markets of the world and have a negative impact," Seko told reporters after his meeting with U.S. Trade Representative Lighthizer in which he sought an exemption for Japanese producers.

"We call for calm-headed behaviour," Seko said.

Japan, he said, would stick to World Trade Organization rules in terms of taking measures.

"If there is a violation, then we will seek consultations. We will look at the impact on Japanese businesses and make a final decision."

(Reporting by Philip Blenkinsop; Writing by Alissa de Carbonnel @AdeCar)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 10 2018 | 8:37 PM IST

Next Story