MOSCOW (Sputnik) – Japan is taking final steps to inform the World Trade Organization later this week that it is ready to retaliate against US import tariffs, sources told a Japanese broadcaster.
The NHK channel said the Japanese government considered $409 million in duties to offset tariffs imposed on it last March by the Trump administration. The list of goods was not publicized.
US President Donald Trump has imposed a 25 percent tariff on imported steel and a 10 percent tariff on aluminium, citing national security concerns. Japan failed to secure a waiver from these duties, but NHK sources said it would continue talks.
Earlier, Japan and China reached several milestone agreements in financial cooperation during a visit of the Japanese PM to China. The two countries have agreed to resume talks on implementing a foreign currency swap agreement and announced a set of measures ensuring the strengthening of mutual trade and financial ties.