Further reports of Trump to slam an extra 15% tariff on ALL Japan imports.
Asahi newspaper citing White House official:
U.S. to add 15% tariff on all Japanese importsU.S. will not apply exceptions to Japan for products that already have tariffs exceeding 15%
–
In summary,
Japan
had expected items currently tariffed at < 15% would face a 15%
levy, while those above 15%, like beef, would stay at the current
rate without any additional tariff. But according to the US
government, imports from Japan will be subject to an additional 15%
tariff regardless of the existing rate.
This news initially dropped just after the US close, in a time of very thin trading liqudiity:
There are some reports that Trump is going to hit Japan with an extra 15% tariff, yen hitYen has stabilised after massive news that Trump could slam Japan with extra 15% tariff
I posted then how we had seen this coming earlier in the week.
From Monday:
Akazawa, said trade agreement between the US & Japan is not a legally binding commitment
Then this from Tuesday:
Japan’s Akazawa is yet to confirm the tariff agreement with the USAkazawa is heading back to the US for more talks
JPY is taking another beating:
This article was written by Eamonn Sheridan at investinglive.com.