logo
North Korea Rejects Denuclearization Talks With US

North Korea Rejects Denuclearization Talks With US

The Diplomat5 days ago
A day after delivering a statement laying out Pyongyang's mistrust of the South Korean government – despite the change in administrations – Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un and the main voice on inter-Korean relations, said that the United States should change its stance on North Korea should it want to make a contact.
'If the U.S. fails to accept the changed reality and persists in the failed past, the DPRK-U.S. meeting will remain as a 'hope' of the U.S. side,' Kim said in the statement published on July 29 by the North's state-controlled Korean Central News Agency. (DPRK is an acronym of North Korea's official name: Democratic People's Republic of Korea.)
While downplaying a White House official's praise of U.S. President Donald Trump's efforts in 2018 and 2019 to defuse tensions on the Korean Peninsula by holding summit meetings with North Korean leader Kim Jong Un in Singapore, Vietnam, and the Demilitarized Zone of the two Koreas, Kim also indicated that Pyongyang would not accept any offers of dialogue as long as Trump takes a same approach that he used last time.
'It is worth taking into account the fact that the year 2025 is neither 2018 nor 2019,' Kim said.
Two years ago, North Korea encoded the policy of building up its nuclear arsenal in its constitution through a key ruling party meeting. In doing so, North Korea made clear that its nuclear status is unchangeable and its nuclear weapons program can not be a bargaining chip at the negotiating table.
This development came after Trump walked out of the Hanoi summit in 2019 without reaching a deal with Kim Jong Un.
Just as the U.S. and South Korea have solidified their views that North Korea will never denuclearize due to its growing aggression in pursuing advanced nuclear weapons in the past few years, Pyongyang's mistrust over Washington and Seoul's approaches to denuclearize the Korean Peninsula was cemented due to Trump's offer to make a big deal – which is also called an 'all for all' approach – during the summit meeting with Kim in Hanoi in 2019. Also, as the U.S. and South Korea have consistently carried out extensive joint military drills, which are deemed as 'invasion rehearsal' by North Korea, Pyongyang's bid to build more advanced nuclear weapons for the safety of the Kim regime has only accelerated.
'The recognition of the irreversible position of the DPRK as a nuclear weapons state and the hard fact that its capabilities and geopolitical environment have radically changed should be a prerequisite for predicting and thinking everything in the future.' Kim Yo Jong said. 'No one can deny the reality and should not misunderstand.'
In light of what Kim said in her statements published on July 28 and 29, Pyongyang clearly showed what can be considered as its minimum condition for renewing dialogue with Washington and Seoul. According to Kim, the U.S. and South Korea should recognize North Korea as a nuclear state and recalibrate their policies in order to restore inter-Korean relations and resume the deadlocked nuclear talks. In other words, the conventional approaches of the U.S. and South Korea to entice North Korea to dismantle its nuclear weapons should be scrapped preemptively.
'Any attempt to deny the position of the DPRK as a nuclear weapons state, which was established along with the existence of a powerful nuclear deterrent and fixed by the supreme law reflecting the unanimous will of all the DPRK people, will be thoroughly rejected,' Kim said.
Unlike her belligerent statement toward Seoul, in which she said Pyongyang had 'no interest' in diplomacy, Kim slightly opened the possibility of the North Korean leader meeting with Trump in the future. She said that 'the personal relationship between the head of our state and the present U.S. president is not bad.' However, she also clearly described denuclearization as a pointless concept that can be interpreted as 'nothing.' It is uncertain whether Trump can recalibrate U.S. policy on North Korea by scrapping the decades-old goal of the denuclearization of North Korea and instead pursuing a nuclear freeze or arms control in talks with Pyongyang.
According to policymakers and government officials in Washington, the U.S. strategic goal – meaning the denuclearization of the Korean Peninsula – will not change as long as it pursues nonproliferation. Also, even though Trump once called North Korea 'a nuclear power,' that does not imply the possibility of the U.S. government firmly recognizing North Korea as a legitimate nuclear state.
Kang Yoo-jeong, a spokesperson of the South Korean Presidential Office, reiterated Seoul's stance to build a Korean Peninsula where the two Koreas have no reason to fight each other during her press briefing on Tuesday. Highlighting the KCNA's publication of Kim's statements two days in a row, Kang also mentioned that the Presidential Office views the restoration of bilateral trust between the two Koreas as the priority to handle, considering Kim's hostile remarks toward the Lee government.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump tariffs: Asian reaction to new US 'reciprocal' rates
Trump tariffs: Asian reaction to new US 'reciprocal' rates

Nikkei Asia

time4 hours ago

  • Nikkei Asia

Trump tariffs: Asian reaction to new US 'reciprocal' rates

TOKYO -- Hours ahead of his Aug. 1 deadline for new "reciprocal" tariffs, U.S. President Donald Trump has announced the rates he is going to impose on imports of goods from dozens of countries. The new rates include 25% on India, 20% on Taiwan and 19% on Thailand, Malaysia and Cambodia. Countries that run a trade deficit in goods with the U.S., such as Singapore, will face the baseline rate of 10%. Some of Asia's smallest economies have been hit hardest: Laos and Myanmar both face 40%. For more in-depth reaction and analysis, here are some of Nikkei Asia's recent articles on the U.S. tariffs: - Trump unveils new sweeping tariff rates up to 41% - Taiwan says US tariff deal not final, calls 20% hit 'temporary' - China pauses US-bound company investment amid trade war - India's Modi faces opposition slam after Trump slaps 25% tariff - South Korean stocks plunge nearly 4% following US trade deal Follow the latest developments in this live blog (Japan standard time): Saturday, August 2 12:15 a.m. Malaysia's tariff deal with the U.S. is a "win-win," the Southeast Asian country's trade minister said. The deal demonstrates the strong bilateral relationship between the two countries, Malaysian Trade Minister Zafrul Aziz told a news conference. The U.S. tariff rate of 19% is "fair," he said, given the circumstances faced by neighboring countries in the region. Read more. Friday, August 1 5:15 p.m. Thailand's acting Prime Minister Phumtham Wechayachai said at a cabinet meeting that the 19% tariffs on Thai products "are the same rate as many countries in the region, which is good news," according to a government spokesperson. "A key step for the Thai government is to issue a joint Thai-U.S. statement," Phumtham said, which the representatives from both sides have drafted. Earlier, Finance Minister Pichai Chunhavajira indicated that, unlike some other countries, Thailand did not agree to eliminate tariffs on all American products. "For the types of products we are prepared for, we will give them 0%. What we are not ready for yet, we won't allow it at all, or we will allow it partially, asking for three to five years to prepare," Pichai told local media. 3:45 p.m. Soh Thian Lai, president of the Federation of Malaysian Manufacturing, pointed out that the burden of tariffs is often shared across the supply chain. "A reduction in tariffs benefits not only Malaysian exporters but also U.S. importers. It improves the overall cost equation and can stimulate demand for Malaysian goods, especially in sectors where price plays a crucial role in purchasing decisions," Soh said. While it is still too early to assess the full impact, he anticipated that several export-oriented industries like electrical and electronics machinery and equipment, rubber-based products and processed industrial goods, may benefit from improved competitiveness and increased demand. And while some front-loading of orders may have occurred earlier, Soh predicted that the tariff cut is likely to encourage more exporters to consider "taking on new orders." 2:15 p.m. Alexandra Hermann, lead economist at U.K.-based consultancy Oxford Economics, said the 25% tariff rate on Indian exports -- higher than Asian peers such as Vietnam, Japan and South Korea -- will put the country at a disadvantage in the medium term, damaging "export prospects and investment appeal." Hermann warned that Trump's threat to penalize Russia's trading partners could also weigh on India, forcing it to replace discounted Russian oil. "Though probably temporary, an additional 100% duty over the remainder of Q3 would shock confidence and could push global oil prices to $80-$90, raising India's import bill," she said. "Public finances would likely take some of the hit to cushion the inflationary impact in the near term, with state-owned oil refiner margins potentially absorbing most of the cost." Hermann added that there is still room for negotiations, as indicated by Trump, with final tariffs of 15% "a plausible upside scenario." 2 p.m. Kriangkrai Thiennukul, president of the Federation of Thai Industries, stated that Thailand's success in negotiating the rate down from 36% to 19% reflects close cooperation between the public and private sectors. "This tariff rate is at an acceptable level. No one gains or loses too much. Overall, Thai products can still compete, but businesses with margins below 10% will need to cut costs, improve efficiency and negotiate with trading partners." 1:50 p.m. By midday, the Kuala Lumpur Stock Exchange was up nearly 20 points, or 1.3%, at 1,531.88, after slipping from its sharp rise to 1,533.10 at the opening. Hong Leong Investment Bank (HLIB) said in a statement that the EMS, or electronic manufacturing services, and glove industries are regarded as immediate beneficiaries of the tariff announcement. However, it noted that both sectors are "still grappling" with industry-specific headwinds, which could temper further rises. HLIB said its target for the benchmark KLCI for the rest of 2025 will be 1,640. 1:15 p.m. Top executives at Singaporean lender Oversea-Chinese Banking Corp. on Friday highlighted uncertainty and volatility from Trump's continuing trade war. While OCBC's home market Singapore, which has a trade deficit with the U.S., is set to have its tariff rate kept at the baseline of 10%, the bank counts China, a main target of Trump's protectionist campaign, as a key external market. "The impact we see in the environment is really customers re-evaluating their investment decisions," OCBC's Deputy CEO Tan Teck Long said during an earnings briefing on Friday. "When the tariff charge on China products was very high at triple digits, we found that the merchandise from a major manufacturing country such as China found its way to other markets ... [and] some of the local businesses suffer from this intense competition." 1 p.m. Tricia Yeoh, associate professor at the University of Nottingham Malaysia, raised concerns that the U.S. could place further pressure on Malaysia to concede on non-trade matters, including its relationship with China and countries in the Middle East. "If so, we are entering an interesting and unprecedented new global order, one in which non-traditional matters of security and foreign policy are grounds for negotiating traditional trade and economic deals," she said. All in all, she said she remains "cautiously optimistic," while countries in Southeast Asia and beyond need to be prepared to negotiate in unconventional ways. 12:45 p.m. For those of you focusing on Southeast Asia, here's a chart comparing how the U.S. tariff rates have changed from the initial announcement in April. 12:35 p.m. Deborah Kay Elms, head of trade policy at the Hinrich Foundation, a trade advocacy group, said the public would benefit from "greater clarity" from the White House, specifically on the transshipment provision, which indicates that "anyone found guilty" of doing this to evade duties will face a 40% levy. "It does not (at the moment) indicate Chinese content," she told Nikkei Asia. Elms argued the "bigger challenge" is that the tariffs in their current state are simply high. "There will be changes ahead. The document reserves the right for the president to modify rules. His agencies have a lot of latitude in implementation." 12:20 p.m. Malaysia's Trade Minister Zafrul Aziz welcomed the outcome, saying that it reflects "strong and enduring economic ties" between the two countries. "It is also a testament to Malaysia's credibility as a reliable trade and investment partner. We thank our counterparts in the U.S. especially the U.S. Trade Representative's Office and the Department of Commerce for their constructive cooperation and support throughout the negotiation process," Zafrul said in a statement. The statement also noted that Malaysia had "stood firm" on various "red line" items such as its affirmative action Bumiputera policy, procurement and opportunities for local companies. 12:10 p.m. Brian McFeeters, CEO and president of the US-ASEAN Business Council, said that since the "reciprocal" tariff rates for exports to the U.S. from several Southeast Asian countries are the "same or close," there should not be "massive shifts" in movable production. "The ASEAN countries have engaged in constructive negotiations with the U.S. administration and there may be scope for further tariff adjustments or other changes in the coming months," McFeeters told Nikkei Asia. 11:55 a.m. Piyasak Manason, head of economic research at InnovestX Securities in Bangkok, said the 19% U.S. tariff represents a "relatively positive outcome" for Thailand. "This tariff level allows Thai businesses to maintain competitiveness while managing the adjustment costs," he wrote, as Thailand's tariff rates were similar to those of regional competitors. At the same time, he warned that several key Thai export industries, such as electronics, machinery and processed foods, will face substantial pressure. "This tariff level allows Thai businesses to maintain competitiveness while managing the adjustment costs," he said. At the same time, the key is "how quickly Thai businesses can adapt through market diversification, productivity improvements and value-chain repositioning." 11:50 a.m. Cambodia's Deputy Prime Minister Sun Chanthol, who led negotiations with the White House, said that while the government welcomed the lowered tariff rate -- Cambodia was facing 49% in April -- it would continue to work with the U.S. to bring it down further. He said that all imports from the U.S. would face 0% duties. Chanthol added that the prospects of tariffs had spurred the government to increase its investment in the domestic market and infrastructure, saying the government would create 300,000 jobs a year. "For Cambodian workers in other countries, please come back home. We will have lot of jobs," he vowed. Chanthol also announced Cambodia was buying 10 Boeing planes for its national carriers, with the option of buying 10 more. Ken Loo, spokesperson for the Textile, Apparel, Footwear & Travel Goods Association in Cambodia, said the tariffs were likely to hit exports even though Cambodia is in the same range as some of its garment-exporting competitors like Vietnam, Indonesia and Bangladesh. "For sure this will affect exports in the short term, because I think this is going to result in lower profitability or higher consumer prices across the board," Loo said. 11:45 a.m. Stephen Olson, senior visiting fellow at the ISEAS -- Yuosf Ishak Institute and a former U.S. trade negotiator, told Nikkei Asia that Trump has "fundamentally rewritten the rules of global trade." "Instead of the U.S. at the head of a system created to reduce trade barriers and conduct trade relationships according to predictable, mutually agreed rules, countries wishing to trade with the U.S. will now face dramatically higher tariffs that could be further increased at the whim of a president who has shown a disdain for trade rules and trade agreements -- even those which he himself has signed," he said. Olson said that while many countries continue to adhere to the principles of free trade, the U.S. is effectively opting out and it "remains to be seen how or if that system can continue to function." He warned that the latest announcement is unlikely to be the end of the story. "Trump regards this as an ongoing reality show. More 'deals' or further tariff increases are almost certain to follow." Southeast Asian countries hoping to pursue export-led development "will be especially hard hit," he said. As for China, Olson said it "has an opportunity to pick up the pieces and seize the mantle -- perhaps rhetorically more than in practice -- as the leader of rules based trade." At the same time, Trump's imposition of a 40% transshipment duty will be perceived as directed against Chinese interests and "will inevitably spill over" in the superpowers' ongoing trade negotiations. 11:35 a.m. Nazir Razak, chair of the ASEAN-Business Advisory Council (ASEAN-BAC) said the reduction in tariffs on Malaysian goods from 25% to 19% is a "positive step forward" and hopefully there would be opportunity for further engagement and reductions. "ASEAN-BAC encourages continued efforts toward a more predictable, open and mutually beneficial trade environment for Malaysia and other ASEAN nations," he said. On the semiconductor front, Wong Siew Hai, president of Malaysia Semiconductor Industry Association commended that the government has put in a tremendous amount of effort to get it down as low as possible, in a "more level playing ground" relative to all the other countries in ASEAN. "From our perspective, the way I see it is that currently business will be as normal. Meanwhile, everybody has to find a way to compete as aggressively as possible, by working on productivity, getting on into technology and so on, until everything settles. Nothing is said about the sectoral tariff that is currently exempted," Wong said. 11:30 a.m. Australia's Minister for Trade Don Farrell said the country's engagement with the U.S. had paid off after the U.S. ally's tariff rate remained at 10%, and added that the government would move to take advantage of having a more competitive rate than some peers. "This is a vindication for the Albanese government, and particularly the prime minister, in the cool and calm way that we have conducted diplomacy with the United States," Farrell told reporters in Adelaide on Friday. He said Australian products like beef -- its top export to the U.S. -- as well as lamb, wine and wheat would be more competitive in the U.S. "As a government, we will assist all of our exporters in ensuring that we take advantage of this situation and increase the volume of exports, not just to the United States, but to all of those other countries that we have diversified with," he said, adding the government would continue pushing its U.S. counterparts to eliminate tariffs and had invited U.S. Secretary of Commerce Howard Lutnick to Australia for discussions. 11:05 a.m. Here are the U.S. "reciprocal" rates on key Asian countries: For further charts on the latest tariffs, check out our tracker. 11:05 a.m. The latest U.S. tariff adjustments reflect a more nuanced approach to "friendshoring," targeting countries closely tied to Chinese value chains while easing pressure on those like Malaysia that retain strategic flexibility, said Khoo Ying Hooi of the University of Malaya. "It signals that the U.S. is not shutting out ASEAN but curating trade ties based on geopolitical behavior," she told Nikkei Asia, adding it boosts investor confidence in Southeast Asia as a viable alternative for supply chain diversification. Former diplomat Ilango Karuppannan agreed, calling it a dual message of discipline and openness. While higher tariffs may raise cost concerns, he said the move also reaffirms Southeast Asia's strategic role in U.S. supply chain realignment. Countries like Malaysia, Thailand, and Indonesia may benefit as "second-best" but geopolitically favorable options. Mohd Faiz Abdullah of the Institute of Strategic and International Studies noted that Malaysia's role in the Thai-Cambodia truce and Prime Minister Anwar Ibrahim's diplomatic engagement influenced the outcome. "This deal was reached without compromising our sovereignty -- our Bumiputera policy, procurement rules, and domestic space remain intact," he said, referring to affirmative action policies to help native Malays. 11 a.m. Taiwan's President Lai Ching-te posted on Facebook that his negotiators in Washington were informed by the U.S. that the 20% rate is "provisional." "The main reason is that, due to procedural arrangements, the U.S. and Taiwan have not yet completed the final wrap-up meeting," Lai wrote. "If an agreement is reached later, the rate is expected to be reduced." He added that the two sides will continue negotiations on supply chain cooperation and other matters. 10:55 a.m. Thai Deputy Prime Minister and Finance Minister Pichai Chunhavajira, who led the government's negotiation team, said in a social media post: "It helps maintain Thailand's competitiveness on the global stage, boosts investor confidence, and opens the door to economic growth, increased income, and new opportunities for the country. "The outcome of this negotiation signals that Thailand must accelerate its adaptation and move forward in building a stable and resilient economy, ready to face global challenges ahead." 10:50 a.m. Wendy Cutler, senior vice president of the Asia Society Policy Institute and a former deputy U.S. Trade Representative, flagged some of the key things in, and missing from, Trump's executive order (EO): "What seems to be absent from the EO is whether existing or new rules of origin will be issued and/or negotiated. This is of key importance in light of the 40 percent transshipment tariff now applicable beyond Vietnam. "U.S. companies will also face challenges as they navigate this new tariff landscape. Of particular concern is the continued uncertainties they will face with new sectoral tariffs coming and possibilities of additional tariffs if the Administration believes countries are not operating in good faith in their implementation efforts. "No doubt about it -- the EO and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since WW2. Whether our partners can preserve it without the United states is an open question." 10:45 a.m. U.S. President Donald Trump announced the new tariff rates in an executive order early evening Washington time, early morning in East Asia.

City in Kyoto Pref. calls for probe into Japan-US military drill held without prior notice
City in Kyoto Pref. calls for probe into Japan-US military drill held without prior notice

The Mainichi

time5 hours ago

  • The Mainichi

City in Kyoto Pref. calls for probe into Japan-US military drill held without prior notice

KYOTANGO, Kyoto -- The Kyoto Prefecture city of Kyotango on July 31 called for confirmation of the facts surrounding a joint Japan-U.S. military exercise that went ahead at a U.S. base in the city without prior notification to local officials. The Kinki-Chubu Defense Bureau of the Ministry of Defense admitted that it was also unaware of the joint exercise and stated, "We will investigate the facts and provide a response." The Kyotango Municipal Government raised the issue at a Defense Ministry-hosted liaison conference on safety and security measures related to the Kyogamisaki Communications Site in Kyotango, which is equipped with an X-band radar for detecting and tracking ballistic missiles. One local resident voiced concerns about the failure to notify the city, stating, "Civilian control is being ignored. Japanese and U.S. military organizations are acting independently on the front lines, which is extremely dangerous." Joint Japan-U.S. training exercises have often been held at the Kyoto Prefecture site in the past, but the Ministry of Defense has usually informed the city and local districts about the content of the drills in advance. This time however, even the Kinki-Chubu Defense Bureau, which has jurisdiction over the area, was unaware of the exercise -- an unusual state of affairs. Kyotango Deputy Mayor Kazuyoshi Nakanishi pointed out during the meeting that a post on the communications site's Facebook page on July 16 showcased the joint training between the Japan Ground Self-Defense Force's 7th Infantry Regiment from the Kyoto Prefecture city of Fukuchiyama and the U.S. military. He urged the Defense Ministry to "properly inform the city and local residents about training exercises without fail." In response, the Kinki-Chubu Defense Bureau apologized, stating, "We deeply regret the inconvenience caused. We will ensure that information is provided to the city and local districts in the future." However, it also stated, "We do not have any information that we can explain." The Facebook post stated that U.S. soldiers and SDF members "conducted a comprehensive exercise as a part of a FTX (Field Training Exercise)," which "consisted of various scenarios, which contributes to our bilateral success as a combined military force." One resident near the communications site expressed their concerns, stating, "The most serious issue is that the joint Japan-U.S. exercise was conducted on the front lines without (Japanese) defense authorities being informed. This is a grave situation. Conducting drills without defense authorities' knowledge is unacceptable under civilian control. I want the facts to be thoroughly investigated and publicly released." According to a resident who witnessed the training near the site, the exercise was conducted July 10. (Japanese original by Toshio Shioda, Maizuru Local Bureau)

Trump Executive Order Sets No Date to Cut Auto Tariff;U.S., Japan Begin to Diverge on What Agreement Means
Trump Executive Order Sets No Date to Cut Auto Tariff;U.S., Japan Begin to Diverge on What Agreement Means

Yomiuri Shimbun

time8 hours ago

  • Yomiuri Shimbun

Trump Executive Order Sets No Date to Cut Auto Tariff;U.S., Japan Begin to Diverge on What Agreement Means

Uncertainty has yet to be dispelled over details of an agreed-upon automobile tariff to be imposed on Japan by the United States. An executive order issued Thursday by the White House to impose a 15% tariff on Japan will place a heavy burden on Japanese companies. But the order did not specify an actual date for when the duty on automobiles will be reduced from the current 27.5% to 15%. The Japanese government has boasted of that reduction as the key result of its recent tariff negotiations with the United States. 'It is so disappointing, as we were hoping that [the auto tariff] would be reduced at the same time as the reduction of the 'reciprocal tariff,'' an executive of a leading automaker said after learning that the executive order issued by U.S. President Donald Trump made no mention of an automobile tariff. Since April, a 27.5% tariff has been levied on automobiles. The recent Japan-U.S. agreement is supposed to reduce the tariff to 15%, but when it will be implemented is uncertain. The car tariff squeezes manufacturers' bottom lines. 'It is becoming a burden day by day,' said a senior automaker official. 'We hope the updated tariff rate will be applied as soon as possible.' Economic revitalization minister Ryosei Akazawa said Friday, 'We will urge [the United States] to take steps to fulfill the agreement as soon as possible.' However, the reciprocal tariff and the car tariff are based on different laws. The United Kingdom waited more than a month to see a lower tariff levied on its cars after reaching an agreement with the United States. Many products affected Meanwhile, the reciprocal tariff on most Japanese exports will be set at 15% from Thursday. 'While the hurdle has been lowered [from the initially announced rate], the impact of the tariff remains unclear,' said Hitoshi Suzuki, president of sake brewery Ichinokura Co. in Osaki, Miyagi Prefecture. Riding a Japanese cuisine boom, Ichinokura has built up its exports to the United States, and the tariff hike comes as a significant blow. Sake was subject to nearly zero tariffs at 3 cents per liter, but that will now rise to 15%. Tariffs on fishery products will also increase. A seafood processing company in Mombetsu, Hokkaido, has doubled its scallop exports to the United States since China imposed an import ban on Japanese seafood products in 2023. 'If we pass on the tariff increase through our prices, customers in the United States may hesitate to buy,' the president of the company said. According to the Japanese government, products with original tariff rates of 15% or higher will continue to be subject to the same tariff rates. This was a special measure agreed upon between the European Union and the United States, and Japan had also agreed to the same mechanism. However, this was not explicitly stated in Thursday's executive order. Even Akazawa, who led the negotiations, told reporters Friday, 'We need to examine the details' of the agreements. No joint document made The lack of a joint agreement document has also made the deal unclear. U.S. Treasury Secretary Scott Bessent said in an interview with Fox News on July 23, 'We'll evaluate [Japan's performance] every quarter and if the president's unhappy then we'll boomerang it back to the 25% tariff rate, both on cars and the rest of their products.' Itochu Corp. Executive Vice President Tsuyoshi Hachimura said Friday at a press conference: 'The agreement has not been put into writing, and there is even talk of evaluating [Japan's performance], so nothing has been decided yet. At this stage, it is better not to be too positive.' The government also intends to take domestic measures. 'We will make every effort to mitigate the impact on industry and employment, such as providing financial support,' Prime Minister Shigeru Ishiba said when he heard opinions from the automobile industry in Tokyo on Thursday. Saisuke Sakai of Mizuho Research & Technologies, Ltd. pointed out uncertainty for companies, saying that the impact on small and medium-sized enterprises would be particularly significant. 'It is necessary for the public and private sectors to work together not only to provide financial support to companies but also to help them shift away from dependence on exports to the United States and develop products with high added value,' Sakai said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store