Japanese Government: "US Reciprocal Tariff Policy Greatly Impacts Global Economy and Trade System"

The Japanese government pointed out on the 9th that the US's reciprocal tariff imposition policy "will greatly impact the economic relations between Japan and the US, as well as the global economy and trade system."

According to Yonhap News, Yoshimasa Hayashi, Japan's Chief Cabinet Secretary, responded as such during a press conference this morning when asked about global trade friction arising from the US's reciprocal tariff policy.

Minister Hayashi stated, "Based on Prime Minister Shigeru Ishiba's instructions yesterday, we will thoroughly investigate the details of the US tariff measures and fully analyze their impact on Japan."

The US government's country-specific reciprocal tariffs took effect as of 9:01 AM Eastern Time (1:01 PM Korean Time) on the 9th.

Minister Hayashi declared, "While strongly demanding a review of the (tariff measures) against the US, we will also ensure thorough measures such as financial support, considering the impact on domestic industries."

Japan has assessed the US tariff measures as a 'national crisis' and has entered into an all-out effort to draw out tariff relief, including the establishment of a pan-governmental task force the previous day.

Additionally, Ryosei Akazawa, a close aide to Prime Minister Ishiba, was appointed as the minister in charge of tariff negotiations with the US.

Han Kyung-woo, Hankyung.com reporter case@hankyung.com