Japan Considering Retaliatory Action Against U.S. Steel, Aluminum Tariffs
According to American Metal Market (AMM, subscription required) the Japanese government is considering retaliatory action against the United States’ Section 232 tariffs via the World Trade Organization (WTO).” Last week, officials in Japan notified the WTO that it “reserves the right” to take action and will decide whether to do so based on what the United States government does next.
The United States has temporarily exempted products from nearly 33 countries from the tariffs until June, but Japan was not one of the countries that was offered this relief. In fact, Japan was the only major U.S. ally not to be granted an exemption.
The Section 232 penalties would cost Japanese exporters an estimated $450 million annually.
Officials from the European Union and the Chinese government already have taken action at the WTO to oppose the United States’ steel and aluminum tariffs.