Japan won’t impose retaliatory tariffs on US, says PM Ishiba

Japanese Prime Minister Shigeru Ishiba on Monday took a cautious stance toward hitting the United States with a retaliatory tariff in response to President Donald Trump's imposition of reciprocal levies, while expressing readiness to meet with the U.S. leader soon if necessary to demand a rethink, Kyodo news agency reports. 

"We are considering all options to determine what would be the most effective way" to address the tariff issue, Ishiba told a session of a House of Councillors committee, according to Kyodo. 

"We won't engage in tit-for-tat."

Ishiba said that if he has a chance to visit the United States, he would not simply seek exemption from reciprocal tariffs but present a "package" to the Trump administration showing what the close U.S. ally can offer, emphasizing Japan's contribution to creating jobs in the United States through investment, according to Kyodo. 

As part of his aggressive tariff policies, Trump on Wednesday announced reciprocal tariffs that will hit all trading partners with a baseline duty of 10 percent, with Japan to be hit by a higher rate totaling 24 percent, Kyodo reported.