Trump’s policies could disturb the regional security balance
At their meeting in Mar-a-Lago, Florida, on April 18, US President Donald Trump rebuffed Japanese Prime Minister Shinzo Abe’s request that Japan be exempted from US new tariffs on steel and aluminum.
In March, Trump announced that the US would impose tariffs of 25 percent on steel and 10 percent on aluminum imports. But he granted the European Union member states exemption until June 1. He also extended the tariff waiver to Mexico and Canada pending negotiations with the United States on the North American Free Trade Agreement. And the Republic of Korea has been exempted from the tariffs after agreeing to lower its steel import quota.
Japan is the only major US ally not exempted from the US’ new tariffs, which will amount to about 50 billion yen ($450 million) a year for Japan despite Abe working hard to cultivate a close relationship with Trump — on the golf course and over the telephone.
Informing the World Trade Organization that it reserves the right to take countermeasures against US tariffs, Japan has now decided to stand up against the US. Opposed to Trump’s protectionist policies, Japan has signed or is negotiating multilateral trade agreements, which, it believes, will boost its economy.
Besides, the Japanese parliament is working toward ratifying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or the TPP-11 for short. As the largest economy in the group, Japan sees the TPP-11 as a cornerstone on which it can establish its economic and diplomatic power in the AsiaPacific region.
The higher tariffs on autos and auto parts that the Trump administration is exploring could backfire worldwide ...