Further reports of Trump to slam an extra 15% tariff on ALL Japan imports.
Asahi newspaper citing White House official:
- U.S. to add 15% tariff on all Japanese imports
- U.S. will not apply exceptions to Japan for products that already have tariffs exceeding 15%
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In summary, Japan had expected items currently tariffed at < 15% would face a 15% levy, while those above 15%, like beef, would stay at the current rate without any additional tariff. But according to the US government, imports from Japan will be subject to an additional 15% tariff regardless of the existing rate.
This news initially dropped just after the US close, in a time of very thin trading liqudiity:
- There are some reports that Trump is going to hit Japan with an extra 15% tariff, yen hit
- Yen has stabilised after massive news that Trump could slam Japan with extra 15% tariff
I posted then how we had seen this coming earlier in the week.
From Monday:
Then this from Tuesday:
- Japan's Akazawa is yet to confirm the tariff agreement with the US
- Akazawa is heading back to the US for more talks
JPY is taking another beating:
