Japan Secures US Trade Benefits Amid New Tariff Measures

Japan has successfully secured most-favoured nation status from the United States regarding tariffs on chips and drugs. This development comes after President Donald Trump unveiled new sector-specific tariff measures.

Japan's trade negotiator, Ryosei Akazawa, highlighted that a joint statement confirmed U.S. tariff rates on Japanese semiconductors and pharmaceuticals would not exceed those applied to other partners like the European Union.

Akazawa indicated that further analysis would be conducted to assess the impact of these tariff measures on Japan. This analysis will consider how the measures relate to the existing U.S.-Japan agreement.

(With inputs from agencies.)