Japan’s government has expressed serious concern over the potential fallout from newly announced U.S. tariffs, warning of risks to both bilateral economic ties and global trade stability.
Chief Cabinet Secretary Yoshimasa Hayashi said on Thursday that Tokyo is closely monitoring the situation following President Donald Trump’s announcement of additional tariffs. Speaking at a press briefing, Hayashi cautioned that the broad-based nature of the U.S. trade measures could have far-reaching consequences.
- “We believe that the current measures and other broad-based trade restrictions by the U.S. government could have a significant impact on the economic relationship between Japan and the U.S., as well as on the global economy and the multilateral trading system,” he said.
The warning underscores growing unease in Japan and other key U.S. allies about escalating protectionist policies, which they fear could trigger retaliatory actions and undermine the rules-based global trade order.
Tokyo has not yet outlined any specific countermeasures but is expected to raise the issue through diplomatic channels, as it weighs the potential impact on Japan’s export-dependent economy, especially in sectors like autos and technology.
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One thing Hayashi didn’t mention was that the new tariffs are likely to trim back the prospect of a May rate hike from the Bank of Japan. These new tariffs will hit Japan’s auto industry hard, and thus economic data.