Japanese media: The US says Japan will still face an additional 15% reciprocal tariff

On August 7th, according to Kyodo News Agency of Japan, a White House official said on Wednesday that imports from Japan that have been subject to tariffs of 15% or more will still face an additional 15% "reciprocal tariff", which is different from the treatment of the European Union. The official pointed out that contrary to Japan's interpretation of the terms of the recent bilateral trade agreement, the United States will not grant Japan a similar perk. According to the previous trade agreement between the United States and Japan, Japan's "reciprocal tariff" rate is 15%, of which the 10% "benchmark tariff" has been imposed since April, and the applicable tax rate in Japan will be raised from 10% to 15% in August. Japanese Minister of Economy and Regeneration Akasawa Ryo said on the 6th that he had repeatedly confirmed with the United States that for goods with an existing tax rate of less than 15%, the total tax rate should be 15% after the tax rate was increased in August. The announcement issued by the US government recently shows that Japan's taxed goods need to be added to the existing tax rate by 15%, which is inconsistent with the agreement and is not good for Japan.