FX.co ★ Trump Targets Japan Over Rice as Tariff Deadline Looms

President Donald Trump of the United States has issued a new warning regarding the imposition of tariffs on Japan, criticizing the nation for its reluctance to import American rice despite experiencing a significant rice shortage. This development comes as a July 9 deadline approaches, marking the potential for an increase in tariffs on various trading partners, including Japan. Previously, in April, Trump had suspended country-specific tariffs to facilitate negotiations, yet only preliminary agreements have been established with China and the United Kingdom. Meanwhile, White House economic adviser Kevin Hassett has indicated that trade agreements with several governments might be finalized following the July 4 holiday, as the administration's focus has largely been on advancing Trump’s tax and spending legislation. Hassett underscored that discussions with Japan are ongoing. Currently, Japan faces a distinct 24% tariff on its exports to the United States, which has been temporarily lowered to 10% during current trade negotiations.