Japan remains wary about tariff tensions despite the US suspending plans to hike its 10% import tariff on Chinese products to 25% from January in exchange for China stepping up its purchases of US products, Japan's Minister of Economy, Trade & Industry Hiroshige Seko told reporters Tuesday.
"There is a possibility still of new tariff impositions... I will closely monitor how the moves impact the Japanese economy," Seko said.
The deputy director of METI's Americas Division, Atsushi Tanizawa, separately told S&P Global Platts Tuesday that Japan continues to ask the US government to remove the Section 232 tariff levied on Japanese steel and aluminum imports to the US.
Canadian Prime Minister Justin Trudeau also called on US President Donald Trump to remove tariffs while the two were in Buenos Aires last Friday for the signing of the US-Mexico-Canada Agreement replacing the North America Free Trade Agreement.
METI separately said trade policy officials from Japan, China and South Korea will meet in Beijing on Thursday and Friday to continue negotiations over a proposal to create a three-country free trade zone that commenced in November 2012.
Such a zone, which would account for 20% of global trade, would potentially benefit Japanese and South Korean automakers as China currently levies a tariff on car imports, METI said.
