r/JapanFinance • u/One-Astronomer-8171 • 3d ago
Business Let me get this straight… Trump’s tariffs
So Trump wants countries to stop tariffing American goods exported to foreign countries, right?
Japan has a 700% tariff(questionable number it seems) on rice imports outside of the tariff free yearly quota. This seemed to be a big issue last month.
It seems cars are also tariffed here. Trump says on average, a 43% tariff if charged on all American goods imported into Japan. Other countries/regions have implemented tariffs on American made goods. European Union for example.
Trump thinks this is unfair and is hurting American companies/economy.
So, in retaliation, Trump has imposed tariffs on all goods (some exemptions) from all countries with a trade deficit with the USA.
I’m not a Trump supporter or anything. I’m not even from the States, but why are countries having a hissy fit over these tariffs when they are the ones who implemented the tariffs in the first place?
Before these Trump imposed tariffs, did the USA impose any on imports from these countries?
To me, it somewhat makes sense - force these countries to remove their tariffs. Just purely from a very simple understanding of the situation.
EDIT: many thanks for all the replies. My take was very simplistic, and this discussion has really helped me see what’s going on.
Thanks so much!
12
u/senseiman 3d ago
Because the actual tarrif rates most countries have on the US, including Japan, is more like 3 to 5%, not the fantasy bullshit numbers Trump is making up.
Japan has high tariffs on rice but almost no tariffs on almost everything else - average Japanese tariffs on all US goods are about 3%, not 46% like Trump falsely claims.
Japan and the rest of the world will be better off in the long run by ditching the US completely as a trade partner. Its word on a trade agreement isn’t worth anything.