HomeEconomyJapan's PM to visit Vietnam, Philippines to talk tariff concerns

Japan’s PM to visit Vietnam, Philippines to talk tariff concerns

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Japanese Prime Minister Shigeru Ishiba departed Sunday for a four-day journey to Vietnam and the Philippines, as Tokyo goals to shore up regional ties after U.S. President Donald Trump’s tariff drive.

Ishiba’s journey comes after China’s President Xi Jinping carried out his personal Southeast Asia tour, with Beijing attempting to place itself as a secure different to the United States as leaders battle to counter Trump’s tariffs.

Before leaving for the journey, Ishiba known as Vietnam and the Philippines – together with the remainder of Southeast Asia – a “growth center” that’s driving the world financial system.

But they face “major impacts” as a result of Trump’s sweeping tariffs, he mentioned, including that Japanese companies working within the area is also hit.

“We would like to listen carefully to the opinions and concerns of Japanese companies in the region and make use of that in how we deal with the tariff measures,” he mentioned.

Despite being the largest investor into the United States, Japan has been pinched by steep levies imposed by Trump on imports of automobiles, metal and aluminum.

The nation is included in Trump’s blanket 10% levy, though the U.S. chief has paused his “reciprocal” responsibility of 24%.

Trump additionally paused “reciprocal” duties of 46% on Vietnam and 49% on Cambodia, the place some Japanese corporations are thought to have shifted an growing share of manufacturing lately, partly to keep away from the fallout from the final U.S.-China commerce struggle.

Ishiba can also be anticipated to carry up points associated to China’s “growing aggression” within the East and South China Sea.

Chinese and Japanese patrol vessels within the East China Sea have routinely staged harmful face-offs round disputed islands.

Vietnam and the Philippines have additionally seen tense territorial spats within the hotly contested South China Sea with Chinese vessels.

“There are attempts by China to unilaterally change the status quo by force, and we would like to further strengthen our security cooperation” with Hanoi and Manila, Ishiba mentioned.

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