Japan may avoid Trump's trade tariffs due to its willingness to negotiate with US — Bloomberg

Bloomberg reports that Japanese and American officials are expected to discuss Donald Trump's new tariffs announced last week. These measures are due to take effect on Wednesday, April 9. However, the Asian country has a chance to avoid high import duties, the agency suggests.

According to US Treasury Secretary Scott Bessent, who will lead the American side of the negotiations, Japan could be given priority among the US trading partners because of its willingness to cooperate in resolving the trade issue.

Japanese Prime Minister Shigeru Ishiba called a meeting on Tuesday morning to discuss the likely impact of the US tariffs. The official expressed confidence in their negative impact on the country's auto industry along with a number of other manufacturing sectors. In other words, the Japanese economy is at risk, Bloomberg explains.

However, China is facing even more severe challenges, the agency believes. Trump threatened to impose additional 50% import tariffs on the country's goods if it does not adjust its trade policy, Bloomberg says.