Japan on Sunday expressed its “serious” concern over the potential impact of US tariffs on China, Canada and Mexico.
Japanese Finance Minister Katsunobu Kato, on a TV program, said he is “very concerned about the possible impact on the global economy,” Tokyo-based Kyodo News reported.
Kato stressed the need to “thoroughly assess” foreign exchange movements and the outlook of monetary policy in the US, a key trade partner of Japan.
US President Donald Trump on Saturday ordered tariffs of 25% on imports from Canada and Mexico, and an additional 10% on goods from China, inviting strong criticism and countermeasures warnings from the three countries.
Canada, in a swift response, announced a 25% levy on US imports.
“We will have to closely look at how Japan would be particularly affected and take the necessary steps (in response),” Kato was quoted as saying, referring to inflation concerns linked to the massive tariffs imposed by Washington.