U.S. refuses to offer Japan reciprocal tariff exemptions

Odaily Planet Daily News: On Monday, people familiar with the matter revealed that the United States rejected Japan's request for a full exemption of 10% reciprocal tariffs and tariffs on specific countries in recent negotiations. Sources said that US officials, including US Treasury Secretary Bessant, said in talks with Japan's chief negotiator Ryomasa Akasawa in Washington last week that the Trump administration intends to cut only the 14% country-specific tariffs, which will be suspended until early July. The United States emphasized in the second round of negotiations that it would only consider extending the 90-day suspension or reducing the 14% tariff depending on the progress of the negotiations. Tokyo has been seeking a full cancellation of reciprocal tariffs, 25% auto tariffs and 25% steel and aluminum tariffs from the United States. Washington has said it will not negotiate on a global 10% base tariff or tariffs on automobiles and steel products. (Jinshi)