Japan, South Korea scramble
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Japan's June core inflation likely slowed but remained above the central bank's 2% target, a Reuters poll showed, keeping it under pressure to resume interest rate hikes as U.S. trade tariffs threaten an already fragile economy.
Anxiety over U.S. tariffs has been spreading across Japan, a central bank report shows, sending a worrying signal about the corporate outlook as trade uncertainty deepens.
Japan faced a 24% tariff rate in April before the tariff pause, while South Korea had a 25% tariff rate applied to its goods. Trump claimed "longterm, and very persistent" trade deficits were the ...
Japanese Prime Minister Shigeru Ishiba said on Thursday his country needed to wean itself from U.S. dependence in such key areas as security, food and energy, as Tokyo faces the prospect of new U.S. tariffs in three weeks.
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The U.S. will impose tariffs of 25% on Japan and South Korea beginning on Aug. 1, President Donald Trump announced on Monday in posts on Truth Social.
Japan is seeking talks between tariff negotiator Ryosei Akazawa and U.S. Treasury Secretary Scott Bessent when the U.S. official visits Japan for the World Expo next week, Yomiuri newspaper reported on Thursday citing Japanese government sources.
Trump shared screenshots of letters detailing new tariff rates for over a dozen countries, allowing room for further negotiations before the renewed deadline of Aug. 1.