Japan declares emergency economic measures in response to Tr...

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02-05-2025 14:26

Japan declares emergency economic measures in response to Trump tariffs

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Japan declares emergency economic measures in response to Trump tariffs

The Japanese government has expressed strong dissatisfaction with the tariff policies of US President Donald Trump. It is preparing to take decisive steps to mitigate the negative impact on its economy. According to Kyodo News, Japan is ready to implement emergency economic measures in direct response to the elevated US tariffs.

The government has assembled a package of urgent initiatives designed to shield the Japanese economy, particularly its export sectors, from the fallout of American trade barriers. Tokyo is aiming to support corporate financing and stimulate domestic consumption in order to counteract the external shock.

Among the proposed measures are a fuel price cap of 10 yen per liter, electricity bill subsidies, and an expansion of low-interest lending programs, particularly to support small and medium-sized enterprises, which are considered vulnerable under current conditions.

Prime Minister Shigeru Ishiba justified the move, warning that the US tariffs could cause serious harm to Japan’s industrial base, especially the automotive and steel sectors, which serve as pillars of the national economy.

Earlier, Finance Minister Katsunobu Kato expressed his frustration during talks with US Treasury Secretary Scott Bessent, calling Trump’s tariffs “deeply regrettable.” Kato urged Washington to reconsider its protectionist stance, but the White House has so far shown no intention of reversing course.

While trade was the central topic in bilateral talks, the US also used the meeting to press Tokyo to shoulder a greater share of the costs associated with stationing American troops in Japan.

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