Japan’s Hayashi: I would like to have close communication with the US over auto tariffs

FXStreetMar 12, 2025 8:02 AM

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Japan’s Chief Cabinet Secretary Yoshimasa Hayashi noted on Wednesday that “I would like to have close communication with the US over auto tariffs.”

Additional quotes

It's regrettable that the US went ahead with steel and aluminum tariff despite our request for exemption.
The measure could have a major impact on Japan-US economic relations and the multilateral trade system.

Separately, China's Foreign Ministry warned on US President Donald Trump’s steel and aluminium tariffs, saying that “if the US insists on suppressing China, China must resolutely counter it.”

Market reaction

USD/JPY keeps pushing higher, tracking a broad US Dollar rebound, currently trading 0.55% higher on the day at 148.55.

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