China is refusing to back down amid an escalating dispute sparked by Donald Trump’s tariffs. Meanwhile, Japan’s chief trade negotiator is visiting the US this week for talks.
As we continue our coverage of the global repercussions of US President Donald Trump’s tariffs, here’s a look at our coverage so far today.
Japan’s Economic Revitalization Minister and chief trade negotiator Ryosei Akazawa is expected to meet Trump administration Treasury Secretary and Trade Representative Jamieson Greer later today. Japan is a key US ally, with Trump last week pausing a 24% tariff on Japanese goods and instead slapping a 10% levy on imports from the wealthy Asian country.
Trump is also expected to be present at the trade talks with Japan at the White House.
Also on Wednesday, China said it does not fear a trade war with the US. The Trump admin imposed a 145% tariff on all Chinese goods, whereas China has retaliated with a 125% tariff on all American goods. China appointed a new top international trade negotiator amid the tariff battle.
Hong Kong is also facing a 145% tariff on its goods. Hong Kong accused the US of bullying with the tariffs, and said it would “suspend the acceptance of postal items containing goods destined to the US.”
The White House said “the ball is in China’s court” when it comes to making a trade deal.
Singapore Prime Minister Lawrence Wong, meanwhile, said there is “little comfort” in the US delaying elevated tariff rates on many countries in the world. The US for now has 10% tariffs on goods from most nations, along with the high aforementioned tariffs on Chinese goods and 25% tariffs on foreign cars.
Wong said the tariff changes have created “great uncertainty for businesses everywhere,” while adding that “No company can comfortably plan long-term investments while knowing that the tariff rates could be changed at a moment’s notice.”
Trump to attend talks with Japan trade envoy
US President Donald Trump said he will take part in a meeting on Wednesday with a senior trade envoy from Japan for tariff negotiations.
Japanese Economic Revitalization Minister Ryosei Akazawa is making a three-day visit to Washington this week.
Akazawa is also due to meet the US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer at the White House on Wednesday.
“Japan is coming in today to negotiate Tariffs, the cost of military support, and ‘TRADE FAIRNESS.’ I will attend the meeting, along with treayury and commerce secretaries,” Trump said on his Truth Social platform.
“Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!” the US president added.
In 2023, Japan was the largest foreign investor in the US. Since 1990, direct investment in the US economy from Japan has totaled $783.3 billion (€689 billion) — more than Canada, Germany and the United Kingdom.
Those investments, however, did not stop Trump from targeting Japanese imports with his “reciprocal” tariffs.
Although a 24% levy on Japanese imports was included in Trump’s 90-day tariff pause, Japan is still facing a blanket 10% tariff on all goods. Tokyo is also subject to the US president’s 25% tariff on specifically for car, steel and aluminum imports.
