Japan Seeks Tariff Exemption from U.S. Amid Steel and Aluminum Duties

Japan's trade minister, Yoji Muto, stated on Monday in Washington D.C. that he requested the United States to exempt Japan from impending trade tariffs, including a 25% duty on steel and aluminum. However, no assurance of exemption was received. Muto met with Secretary of Commerce Howard Lutnick, U.S. Trade Representative Jamieson Greer, and White House economic advisor Kevin Hassett to discuss the matter and agreed to continue consultations. Japanese officials are emphasizing Japan's role as a significant economic partner, highlighting its investments in the U.S. economy and job creation, in an effort to persuade President Trump to grant exemptions on tariffs for cars and other products. The new tariff rates are scheduled to take effect on March 12. Discussions also included Japan potentially increasing its purchases of U.S. liquefied natural gas (LNG), a gas pipeline project in Alaska, and Nippon Steel's bid to acquire U.S. Steel.