The trade row has cast a shadow over the relationship between Japanese Prime Minister Shinzo Abe and US President Donald Trump, who have forged otherwise close ties. Photo: AFPTokyo: US-imposed trade tariffs on its close allies could have a “grave impact” on ties and the world trading system, the Japanese government said on Monday, describing the situation as “extremely deplorable”. Close allies Tokyo and Washington have been at loggerheads over trade policy after the US refused to give Japan an exemption from the tariffs, which came into effect on Friday. “The US government’s trade measures, citing its security, makes us concerned that they could disrupt the global market,” Suga told reporters. According to the most recent data, Japan’s trade surplus with the US was 615.7 billion yen in April ($5.6 billion), a gain of 4.7% on higher demand for cars and construction machinery.

Source: Mint June 04, 2018 06:22 UTC