Tokyo, Apr 3 (UNI) Japan's Chief Cabinet Secretary Yoshimasa Hayashi on Thursday expressed "serious concern" about the US decision to impose reciprocal tariffs, questioning its compliance with World Trade Organization rules and a bilateral trade agreement.
At a press conference, he said that Tokyo has strongly urged Washington to retract its decision to slap a 24 percent levy on Japanese products as part of the reciprocal tariffs.
The US administration's tariff plan could have a "big negative impact" on the global economy and the multilateral trade system, Hayashi said.
Meanwhile, Japanese Minister of Economy, Trade and Industry Yoji Muto said he told US Commerce Secretary Howard Lutnick during an online meeting earlier in the day that the new tariff move is regrettable and will make it difficult for companies to invest in the U.S. market and hurt the US economy.
Muto added that Tokyo will continue to request exemptions from US tariffs.
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