Market Analysis

Japan Pushes for Exemption from Trump's Tariff Hike

Amos Simanungkalit · 12 Feb32.1K Views

Image Credit: Reuters

Japan's industry minister Yoji Muto announced on Wednesday that the country has asked the United States for an exemption from the recently increased steel and aluminum tariffs.

On Monday, U.S. President Donald Trump significantly raised tariffs on steel and aluminum imports to a fixed rate of 25% with no exemptions, arguing that the move would support struggling American industries, though it also risks triggering trade disputes on multiple fronts.

However, Trump later indicated that he would "give great consideration" to Australia's request for a tariff exemption, citing the trade deficit between the two nations as a key factor.

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