TOKYO, July 25 (KUNA) -- Japanese Prime Minister Shigeru Ishiba on Friday instructed the relevant Cabinet ministers to take measures to minimize the impact of the recent tariff deal with the US.
"We aimed to reach an agreement that would contribute to the national interests of both Japan and the US. We were able to achieve exactly that kind of agreement with President Trump," Ishiba told a government task force meeting attended by all Cabinet members.
On Tuesday, Japan and the US clinched trade deal that set a 15 percent tariff rate on all export items to the US, including automobiles, lower than 25 percent rate proposed by US President Donald Trump.
Under the deal, Japan will invest USD 550 billion in the US and increase the amount of American rice imported within the framework of minimum access.
"What happens next is extremely important. We export not only automobiles, but many other products to the US. It is important to steadily implement the trade deal and to fully prepare to limit the impact on domestic industries and employment," Ishiba said, stressing that the government will take all possible measures to support domestic exports to the US.
In addition, the premier urged the ministers to analyze the possible impact of the tariffs, provide financial support to small and medium-sized enterprises and small businesses, and manage the progress of the implementation of the agreement. (end) mk.mt