Rome, April 7 (LaPresse) – Japanese Prime Minister Shigeru Ishiba stated on Monday that the government will continue to ask U.S. President Donald Trump to lower tariffs on Japan, but acknowledged that results "won’t come overnight." "Therefore, the government must use all available means" to cushion the economic blow of U.S. tariffs, such as offering financial support to domestic companies and taking measures to protect jobs, Ishiba said in Parliament.
Ishiba also said he is willing to go to the United States for a meeting with Trump as soon as possible. "But in doing so, we must prepare a package of measures on what Japan could do," he added.
Trump's decision to impose a 25% tax on car imports and a 24% reciprocal tariff on other Japanese goods is expected to deal a heavy blow to Japan’s export-based economy, with analysts forecasting that higher tariffs could reduce economic growth by up to 0.8%.
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