logo
Nippon Steel warns of more China dumping due to Trump tariffs

Nippon Steel warns of more China dumping due to Trump tariffs

Nikkei Asiaa day ago
Nippon Steel Vice Chairman Takahiro Mori at a press conference on Aug. 1 in Tokyo. © Kyodo
SHOTARO TANI
TOKYO -- China's steel dumping may accelerate due to U.S. tariffs, as it could have an effect on Chinese manufacturing activity, Japanese steelmaker Nippon Steel warned on Friday.
Nippon Steel, which completed a $14 billion acquisition of U.S. Steel in June, is looking to the U.S. market to counter the impact.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

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

time28 minutes 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.

N. Korea's Kim orders freight station construction near China border
N. Korea's Kim orders freight station construction near China border

The Mainichi

time9 hours ago

  • The Mainichi

N. Korea's Kim orders freight station construction near China border

TOKYO (Kyodo) -- North Korean leader Kim Jong Un has ordered the construction of a freight station near the Chinese border to support a large-scale greenhouse farm project in the northwest, state-run media reported Saturday. Coming at a time when North Korea has been bolstering military and economic ties with Russia, particularly since Moscow's invasion of Ukraine in February 2022, observers are watching whether the move could lead to an uptick in trade with its traditional ally China, which has recently been sluggish. Kim visited the region around Sinuiju on Friday, where severe flooding occurred in July 2024 after the Yalu River, which runs along the border with China, overflowed, according to the Korean Central News Agency. While inspecting embankment and farm construction, Kim called for the creation of a "comprehensive transport center" with a new vegetable storehouse and processing facilities built around it, the official news agency said. The area around the Yalu River has long been prone to flooding during heavy rains, with widespread damage reported last year. But with residential buildings reportedly swiftly rebuilt, Kim was quoted as saying such flood damage, once seen as inevitable, has "became a past story." Beijing is viewed as Pyongyang's closest and most influential ally in economic terms. But China's trade with North Korea in 2024 fell 5 percent from the previous year to about $2 billion, official data showed earlier this year, as bilateral trade lost momentum despite Beijing and Pyongyang marking the 75th anniversary of diplomatic relations.

'Speaking' tactile sidewalks enrich lives of visually impaired in Japan
'Speaking' tactile sidewalks enrich lives of visually impaired in Japan

The Mainichi

time11 hours ago

  • The Mainichi

'Speaking' tactile sidewalks enrich lives of visually impaired in Japan

KANAZAWA, Japan (Kyodo) -- Tactile paving for people with visual impairments in Japan has recently been enhanced with audio guidance, as the developers of the technology aim to improve the lives of people with partial sight and assist sighted tourists. The new braille blocks are marked with black stickers in special patterns. By scanning the coded blocks with a smartphone camera and app, users can listen to audio information about the location and its surroundings. "There is a zone where people can enjoy the smells of earth and young green leaves on the right side, about 2 meters ahead," a voice from a smartphone said as Ikuko Kawaguchi tried the system in a trial held in Kawasaki, near Tokyo, in April. "I'm excited that I can visualize the scenes," said the visually impaired 61-year-old, adding, "The system encourages me to go out alone." The system was jointly developed by the laboratory of Kanazawa Institute of Technology professor Kunio Matsui and Tokyo-based W&M systems LLC. Those behind the technology hope it can also be made available to tourists and foreigners as they walk the streets of Japan, whether they are sighted or not. The special braille blocks were first introduced in Kanazawa, central Japan, in 2019 and have since been installed in other areas, appearing at train stations, pedestrian streets and public offices in 10 prefectures, including Tokyo and Osaka, as of April. The developers plan to make the system available in multiple languages and are considering enabling it to answer questions by incorporating generative artificial intelligence capabilities. "We want more people to understand the importance of braille blocks as we enhance their functions and expand their use," Matsui 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