U.S. President Donald Trump’s decision to pause his so-called reciprocal tariffs for 90 days is a “positive development,” Japan’s top government spokesman said Thursday, though Tokyo will continue to urge Washington to roll back other tariff measures.
The abrupt reprieve, announced by Trump hours after reciprocal tariffs on U.S.-bound shipments took effect on Wednesday, gave financial markets immediate relief, with the Nikkei stock index rebounding sharply in Tokyo.
“We have conveyed our concern and strongly asked (the United States) to review the tariff measures at various levels. We take the U.S. announcement as a positive development,” Chief Cabinet Secretary Yoshimasa Hayashi said at a press conference.
“That said, we will continue to strongly urge the United States to review the remaining reciprocal tariff, as well as other tariffs on steel, aluminum, cars and car parts,” the top government spokesman said.
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi (C) talks to the press at the prime minister’s office in Tokyo on April 10, 2025. (Kyodo)
Later in the day, a source familiar with the matter said Japan’s minister in charge of negotiations related to Trump’s higher tariffs is arranging to visit the United States next week.
During his stay, Ryosei Akazawa, a close aide to Prime Minister Shigeru Ishiba, is expected to hold talks with his U.S. counterpart, Treasury Secretary Scott Bessent, who serves as the point man for the negotiations with Japan, according to the source.
Of the 24 percent reciprocal tariff imposed on Japanese products entering the United States, a baseline levy of 10 percent is still in place despite the latest pause.
U.S. tariffs are projected to hurt the export-driven Japanese economy, leading Ishiba to pledge his government will do all it can to cushion the impact.
Hayashi said the government will keep close tabs on financial market developments amid a recent market rout driven by concerns economic growth will be curbed.
The 225-issue Nikkei Stock Average jumped over 9 percent on Thursday from the previous day, when the Finance Ministry, the Bank of Japan and the Financial Services Agency held a three-way meeting to discuss market volatility.
“We will closely monitor market movements with a high sense of urgency and take appropriate measures,” Hayashi said, adding that the three stakeholders will ensure maximum cooperation.
Akazawa was appointed by Ishiba on Tuesday as a minister tasked with negotiations with the United States in a bid to dissuade Trump from carrying out tariff hikes that could harm trade and the economy.
He also serves as minister responsible for economic and fiscal policy as well as for the revitalization of local economies.
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