US rejects Japan full exemption from 'reciprocal' tariffs, according to Kyodo; US would consider lowering 14% Japan-specific tariff

• "U.S. officials including Treasury Secretary Scott Bessent told Japan's top negotiator Ryosei Akazawa in their meeting in Washington last week that the administration of President Donald Trump intends to put only a cut in the 14 percent country-specific tariff, suspended through early July, on the negotiating table, the sources said."


• "The U.S. side stressed in the second round of the negotiations that it will only consider extending the 90-day suspension or lowering the 14 percent tariff depending on the progress of their talks, according to the sources."

Analysis details (16:14)

• Note, the Liberation Day reciprocal tariff implemented on Japan was 24%, before it was cut to 10% for 90 days while the US negotiates with nations. 

05 May 2025 - 16:09- ForexImportant- Source: Kyodo