US president warns he could hit Japan with tariffs after vowing to place levies on imports from Canada and Mexico
Donald Trump announced Nippon Steel had abandoned its plan to buy US Steel but would “invest heavily” in the iconic Pittsburgh producer. At a joint press conference with Japanese Prime Minister Shigeru Ishiba on Friday, the president said the prospect of an investment in US Steel was “very exciting”, adding he would meet Nippon officials next week. “They’ll work out the details . . . I’ll be there to mediate and arbitrate,” he said.
In 2024, the US deficit in goods with the country was $68bn, compared with $55bn in 2020 before the end of his first term. Trump said Washington and Tokyo would work together to cut the trade deficit, saying “they want fairness also”. Asked about the threat of tariffs, the president said: “We didn’t discuss tariffs too much.” Ishiba said he was “unable to respond to a theoretical question” when asked whether Tokyo would retaliate. Trump also said Japan would buy more US liquefied natural gas.
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