Japan’s Aso Asks U.S. to Reconsider Auto Tariffs

July 23, 2018

Buenos Aires- Japanese Finance Minister Taro Aso on Sunday asked the United States to reconsider its plan to impose additional tariffs on automobile and auto parts imports.

Aso made the request during talks with U.S. Treasury Secretary Steven Mnuchin in Buenos Aires, held on the sidelines of a meeting of Group of 20 finance ministers and central bank governors.

The administration of U.S. President Donald Trump is considering additional tariffs on automotive imports for national security reasons.

Aso is seen to have explained Japanese auto-related companies' contributions to the U.S. economy through investment and job creation.

He also apparently insisted that Japanese products are not posing a security threat to the United States.

Over 20 Japanese entities, including Toyota Motor Corp., Nissan Motor Co. and Honda Motor Co. have submitted to the U.S. Department of Commerce their written opposition to the possible add-on tariffs.

Elsewhere in his talks with Mnuchin, Aso voiced concern over the impacts Japanese companies may suffer from the United States' renewed economic sanctions on Iran.

"I hope Japan's concerns will be eliminated," Aso told a press conference. He did not comment on the U.S. side's reaction on the matter.

After the United States revived its sanctions on Teheran, Japanese oil wholesale companies started looking for alternative suppliers of crude oil to replace Iran. Jiji Press