US promises to fix double tariff on Japanese goods

Reuters :

The U.S. government on Thursday promised to amend a presidential executive order to remove overlapping tariffs on Japanese goods, Tokyo’s trade negotiator said, after talks in Washington to fix what he called a “regrettable” oversight.

In those discussions, Ryosei Akazawa urged U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to ensure that a 15Per cent levy agreed last month on Japanese They explained they would amend a July 31 presidential order, which included a no-stacking provision for the European Union but not Japan, and also refund excess duties collected, Akazawa said.

Lutnick and Bessent also said Trump would lower auto tariffs to 15Per cent from 27.5Per cent in a separate executive order, in line with the trade agreement reached by the two countries last month.

“Frankly, I did not expect to be visiting the U.S. again so soon after my last trip,” said Akazawa, who has travelled to Washington nine times since April.
The U.S. Treasury and Commerce Department did not immediately respond to requests for comment on the meetings with Akazawa.

Japan is among eight major U.S. trading partners to have reached a trade framework deal, and the 15Per cent rate for many of its goods is on the low side.

The U.S. on August 7 began collecting higher tariffs on dozens of countries’ imports, including a 50Per cent levy on imports from Brazil, a 39Per cent rate for imports from Switzerland and a 35Per cent rate for Canadian imports.

Much of what Akazawa negotiated in July during his previous visit to Washington, including directly with Trump, was never put into a signed document. That created confusion in Tokyo and fears that some Japanese companies could face higher tariffs than anticipated.

Prime Minister Shigeru Ishiba has been criticised by his opponents for not crafting a joint statement with Trump on the trade deal. Ishiba, who is under pressure from some in his party to step down after last month’s upper house election loss, said he chose not to do so to speed the agreement’s implementation.