Yesterday President Trump imposed tariffs on goods coming into America, including a 24% tariff on Japanese goods. Things coming in from other countries will have a baseline of 10%, but countries President Trump called the “worst offenders” — including Japan — have much higher rates.
This means that going forward, things from Japan like anime, manga, video games and tech will cost more. There will also be an auto tariff that is separate. These tariffs will go into effect this month.
President Trump said he’s doing this to help domestic business in the United States. Worldwide stocks fell after his announcement, including in America and Japan.
Some places, like the European Union, have vowed retaliation “if it is necessary.” Japan hasn’t threatened to retaliate, but that possible action remains on the table.
“We are seriously concerned about whether the tariff measure is consistent with WTO rules and the Japan-U.S. trade agreement,” said Prime Minister Shigeru Ishiba of Japan. Japan and America are major trading partners.
President Trump gave reasons for going after Japan with more than 10%, saying that the island nation typically puts almost 50% tariffs on American goods going into the country, that car prices are more than that, and that there is a 700% tariff on rice. Members of Japan’s government and press have pointed out that none of these numbers are accurate portrayals of what Japan is doing.
Countries with higher tariff rates include Cambodia (49%), China (34%), Thailand (36%), Switzerland (31%), South Korea (25%), Vietnam (46%), and Taiwan (32%).
Prime Minister Ishiba continued, “I won’t hesitate at all to ask President Trump in person (to retract the tariff measure) at the most appropriate time and in the most appropriate format, if necessary.” He insisted that the tariffs will have a “big negative impact on bilateral economic ties, the global economy and the multilateral trade system.”
The Japanese government will employ about a thousand consultation centers to help small and midsize companies in their country who may struggle because of these imposed tariffs. The prime minister had previously said, “The whole of the government and the ruling parties will do the utmost to protect people’s livelihoods, domestic industries and jobs at any cost.”
Source: Kyodo News, 2
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Danica Davidson is the author of the bestselling Manga Art for Beginners with artist Melanie Westin, plus its sequel, Manga Art for Everyone, and the first-of-its-kind manga chalk book Chalk Art Manga, both illustrated by professional Japanese mangaka Rena Saiya. Check out her other comics and books at www.danicadavidson.com.