Japan, Tariff
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The Mainichi |
TOKYO (Kyodo) -- U.S. President Donald Trump's decision to pause his so-called reciprocal tariffs for 90 days is a "positive development," Japan's top government spokesman said Thursday, though Tokyo ...
Reuters |
U.S. President Donald Trump's tariff reprieve had provided room for negotiations, as the country seeks to reduce tariffs through talks.
Chicago Tribune |
The surge echoes the jump overnight on Wall Street, which had one of its best days in history, with the S&P 500 surging 9.5%.
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Japan's ruling coalition is considering a plan to deliver a cash handout as part of a package aimed at allaying the impact of US tariffs and continued inflation on the country's economy, local media reported on Thursday.
It's only been a few days since President Trump's 25% tariffs on foreign cars took effect. But the import surcharge has led to some immediate changes, including layoffs and pauses in car shipments.
President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.
The relief offers hope that agreements can be negotiated to avoid further trade barriers and offer the business community clarity and certainty.
By imposing massive tariffs on foreign-made cars, Trump is punishing key allies, tanking Slovakia’s economy, and undermining U.S. influence in Eastern Europe.
Stocks in Asia and Europe rallied after President Trump paused punishing global levies. But U.S.-China trade tensions accelerated, and analysts cautioned that their full effects wouldn’t be felt for weeks.
Honda led Japanese automakers to make cars in the U.S. at a time when the sitting President targeted auto imports to rescue American auto manufacturing.
Optimism in Tokyo’s markets suggests hopes are high for a breakthrough, despite Donald Trump’s rhetoric about Japan treating the US poorly.