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Investing.com -- U.S. President Donald Trump revealed on Monday that discussions are underway with Japan regarding trade. This announcement comes amid global trade disruptions resulting from the implementation of new tariffs.
The President mentioned that he had a conversation with the Prime Minister of Japan, Shigeru Ishiba, who is planning to send a high-level team for trade negotiations. Trump stated that Japan has not been fair to the U.S. in terms of trade, citing examples of trade imbalances in the automotive and agricultural sectors.
Last Wednesday, Trump disclosed his most extensive range of tariffs yet. He plans to enforce a standard 10% duty on all foreign imports entering the U.S. and will impose higher tariffs on several long-term trade partners. This move is in response to what he perceives as unfair trade practices.
On Friday, the President mentioned a "constructive call" with the General Secretary of the Communist Party of Vietnam, To Lam. Despite the ongoing trade upheaval, Trump remains steadfast in his trade policy, expressing that he believes it is progressing well.
As of now, no new tariff agreements have been officially announced.
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