TRUMP PLANS TO ADD ANOTHER 25% TARIFF ON STEEL AND ALUMINUM PRODUCTS FROM JAPAN!

Donald Trump plans to increase tariffs on steel and aluminum products from Japan, but the details are a bit more complex than just adding another 25%. Here's what's happening :

Current Tariff Situation: Japan is already facing a 25% tariff on its steel and aluminum products, as well as a 10% baseline tariff. Additionally, there's a separate 25% tariff on automobiles.

Potential Increase: Trump has stated that he could increase tariffs on steel and aluminum to 50%, not just add another 25%. This would significantly impact Japan's exports to the US.

Negotiations: Japan's Prime Minister Shigeru Ishiba is planning a visit to the US to negotiate a better trade deal. Japan wants the US to drop all tariffs, including those on automobiles, aluminum, and steel.

Impact on Japan: The tariffs could have a major impact on Japan's steel industry, particularly since the US is one of its most important export destinations. If a 118% tariff is imposed (25% existing + 50% increase + 43% other tariffs), the export competitiveness of Japanese companies would be significantly reduced.

It's worth noting that Trump's tariff policy aims to protect American industries and reduce reliance on foreign goods. However, this move could lead to retaliation from other countries and potentially escalate trade tensions .#TradingTypes101 #MyCOSTrade #TRUMP $TRUMP