US President Donald Trump on Tuesday threatened to impose 30-35 per cent tariffs on Japan if it keeps refusing American rice.
During a conversation with journalists on Air Force One, Trump expressed dissatisfaction with Japan's stance on US rice imports and the automotive trade disparity between the nations.
The US president said, "We've dealt with Japan. I'm not sure if we're going to make a deal. I doubt it. They're very tough. You have to understand they're very spoiled."
""I'll write them a letter saying 'We thank you very much. We know you can't do the kind of things that we need. And therefore you'll pay 30%, 35%, or whatever the number is that we determine.' Because we also have a very big trade deficit with Japan," Trump said.
In April, Trump implemented a general 10 per cent tariff on imports from most trading partners, whilst announcing - and subsequently suspending - higher rates for numerous economies to facilitate negotiations.
The suspension ends July 9, after which increased rates will take effect for countries that haven't secured agreements with Washington.
Japan, a crucial US ally and leading investor, faces the standard 10 per cent tariffs applied to most nations, plus additional duties on cars, steel and aluminium.
Earlier on the Truth Social, Trump claimed that Japan “won’t take” rice from the US. However CNN, citing, US Census Bureau trade data called the claim not true and said that Japan bought $298 million worth of rice from the US last year.
Between January and April of this year, Japan bought $114 million worth of rice.
“They won’t take our RICE, and yet they have a massive rice shortage. In other words, we’ll just be sending them a letter, and we love having them as a Trading Partner for many years to come,” Trump said in a post on Truth Social.
Stay informed with the latest business news, updates on bank holidays and public holidays.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less