War of tariffs. Japan presents an emergency measures package to face impact – Observer

The Japanese government presented a package of emergency economic measures on Friday to combat the adverse effects of the tariffs imposed by the United States, before the second round of bilateral trade negotiations, scheduled for next week.

The aid package includes supporting companies and measures to stimulate consumption, to dissipate concerns that US tariffs can affect Japanese exports, which could have a considerable impact on the general economy.

The Prime Minister’s government, Shigeru Ishiba, has also pledged to reduce gasoline and diesel prices by 10 yen (about 0.06 euros) per liter, grant subsidies for energy invoices and consider the possibility of widening the scope of low interest rate loans to small businesses from May.

North American tariffs can “substantially harm national industries that support Japan,“ like the car and steelmaker, ”said Ishiba, stressing the need for Tokyo and Washington to work together for mutual benefit.

“It is fundamental for us clearly to convey to the United States that Japanese companies have contributed significantly to the US economy through investment and job creation,” he added.

The announcement of the new measures comes a day after the Japanese government announced the US visit to the maximum representative for tariff issues, Ryosei Akazawa, starting on Wednesday, to pursue negotiations.

The trip lasts three days, during which Akazawa, minister responsible for economic revitalization and new capitalism, is expected to meet, among others, with US Treasury Secretary Scott Bessent and with US trade representative Jamieson Greer.

This will be the second round of negotiations between Tokyo and Washington on tariff issues, after a first, in mid -April, which was unsuccessful, despite the positive comments made by the US President Donald Trump.

The Japanese government has been asking the Trump administration an exemption from the new tariff over the automotive industry-particularly detrimental to Tokyo because it is a major Japanese industries, with the United States being the largest market in the Asian country-as well as other new tariffs.

Japan has had a priority in tariff negotiations on these rates.