Japan’s trade minister, Yoji Muto, met with members of the Trump administration in an effort to secure an exemption from President Donald Trump’s 25% tariffs but received no such reassurances.
Muto argued before Commerce Secretary Howard Lutnick, U.S. trade representative Jamieson Greer, and White House economic adviser Kevin Hassett that because Japan heavily invests in the U.S. economy, it should be exempt from the 25% tariff on aluminum and steel set to be implemented on Wednesday.
“We did not receive a response that Japan will be exempt,” Muto told reporters. “We must continue to assert our position.”
Japan also attempted to receive an exemption from the 25% tariff on foreign automobiles set to go into effect on April 2. The auto tariff is expected to hit Japan the hardest as its biggest export is automobiles and the United States is its No. 1 customer.
Unlike Canada, which is imposing retaliatory tariffs on the U.S., Japan is seeking to maintain collaboration. Muto discussed Japan increasing its investment in the U.S., particularly in purchasing liquefied natural gas. The country is considering a $44 billion investment in a project that would export natural gas from Alaska.
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Muto said he hopes that Japan and the U.S. can establish a “win-win” relationship.
Japanese Prime Minister Shigeru Ishiba met with Trump in February to discuss boosting investment and collaborating on artificial intelligence, semiconductors, manufacturing, and energy.