Latest news with #Muto
Hindustan Times
3 days ago
- Business
- Hindustan Times
Japan to send a senior official to Alaska energy conference
TOKYO, - Japan's Economy, Trade and Industry Minister Yoji Muto said on Friday that a senior official will attend an energy conference in Alaska early next week, where the proposed $44 billion Alaska LNG project is expected to be discussed. Takehiko Matsuo, the ministry's Vice-Minister for International Affairs, will participate in the Alaska Sustainable Energy Conference, scheduled for June 3-5, Muto said. The conference starts the day after talks scheduled by the Trump administration, which invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, as Asian governments consider U.S. investments in the hopes of relief from Washington's tariffs. It was not immediately clear whether Matsuo would attend the event on June 2, which will be hosted by Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright. Muto said Japan has been in communication with the U.S. regarding pipeline construction and other issues, adding, "I expect meaningful discussions will be held this time as well." Japan's biggest LNG buyer JERA has sent an "expression of interest" to Glenfarne in the Alaska LNG Project, Bloomberg News reported on Friday. Glenfarne is the development partner of state-run Alaska Gasline Development Corporation . South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference, the ministry said on Thursday, as some Asian countries consider investing in the Alaska LNG project. Meanwhile, Friends of the Earth Japan said on Thursday that more than 150 groups from Japan and around the world sent an open letter to the Japanese Prime Minister urging the country not to join the costly Alaska LNG project. "For Japan, Alaska LNG is absolutely unnecessary. Japanese companies resold 37% of LNG they handled because Japan is buying LNG much more than it needs," said Hiroki Osada, a campaigner at Friends of the Earth Japan. "Starting another new LNG project is already a horrible decision considering this, but it is even more outrageous given it also exacerbates climate change beyond threshold, and destroys the indigenous way of life and the biodiversity in Alaska," he added.
Japan Times
30-04-2025
- Automotive
- Japan Times
Japan keen to team up with ASEAN for free trade system
Trade minister Yoji Muto has said the country wants to protect the free trade system in cooperation with Southeast Asia, in response to high tariffs imposed by the administration of U.S. President Donald Trump. "We want to protect the rules-based multilateral trade system as we engage in constructive dialogue with the United States while working with the Association of Southeast Asian Nations," he said at a news conference in Bangkok, the capital of Thailand, an ASEAN member, on Tuesday. In Bangkok, Muto attended the first meeting of the ministerial Energy and Industry Dialogue between Japan and Thailand the same day. At the meeting, the two countries adopted a joint statement calling for advancing the decarbonization of automobiles under a "multi-pathway" approach, which includes promoting diverse vehicles such as hybrid and fuel cell vehicles in efforts to transition to a low-carbon society. "We shared the recognition that there is a need for multi-pathway measures instead of focusing solely on electric vehicles," Muto told reporters after the meeting, which was also attended by Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira. At the beginning of the bilateral meeting, Pichai said he believes Thailand can solidify its position as a vehicle production hub with strong and diverse supply chains by learning state-of-the-art technologies on clean energy and next-generation automobiles from Japan. The 10th-largest automobile producer in the world by volume, Thailand serves as a major production and export base for Japanese automakers. The joint statement also underlined the importance of promoting a circular economy as well as maintaining and further developing competitive supply chains and human resources. Japan and Thailand plan to hold the second meeting of the Energy and Industry Dialogue within a year after working-level officials from both sides flesh out the agreements reached at the first meeting. On Monday, Muto visited Malaysia, this year's ASEAN chair nation, and met with its investment, trade and industry minister, Tengku Zafrul Aziz. Muto said that he and Tengku Zafrul exchanged information on the current state regarding tariff negotiations with the U.S. Tengku Zafrul told Muto that ASEAN will continue constructive dialogue with Washington while maintaining the rules-based multilateral trade system, and that Malaysia views the situation as an opportunity to reinforce ASEAN's supply chains, according to the Japanese minister.
Yahoo
03-04-2025
- Business
- Yahoo
Japan says US tariffs 'extremely regrettable', may break WTO rules
Japan slammed Thursday as "extremely regrettable" US President Donald Trump's sweeping new tariffs, saying they may break WTO rules and the two countries' trade agreement. Japanese firms are the biggest investors into the United States but Tokyo has failed to secure an exemption, with Trump announcing a hefty 24-percent levy on Japanese imports. "I have conveyed that the unilateral tariff measures taken by the United States are extremely regrettable, and I have again strongly urged (Washington) not to apply them to Japan," Yoji Muto, trade and industry minister, told reporters. He said he spoke to US Commerce Secretary Howard Lutnick before Trump's announcement of a new 10-percent baseline tariff and extra levies on selected countries -- including close strategic ally Japan. "Japan (are) very very tough. Great people.... They would charge us 46 percent, and much higher for certain items," Trump said. "We are charging them 24 percent." Muto said he had explained to Lutnick "how the US tariffs would adversely affect the US economy by undermining the capacity of Japanese companies to invest". "We had a frank discussion on how to pursue cooperation in the interest of both Japan and the United States that does not rely on tariffs," Muto said. Government spokesman Yoshimasa Hayashi also said that the US measures may contravene World Trade Organization (WTO) rules and the two countries' trade treaty. "We have serious concerns as to consistency with the WTO agreement and Japan-US trade agreement," he told reporters. Asked if Japan will impose retaliatory tariffs or is considering filing a suit to the WTO, Hayashi said: "We decline to disclose details of our considerations." - Abe exception - In Trump's first term, then prime minister Shinzo Abe, who had warm relations with Trump, managed to secure an exemption from tariffs. In February, Trump hosted Prime Minister Shigeru Ishiba for apparently friendly and fruitful talks, hailing a "new golden age for US-Japan relations". Ishiba promised a trillion dollars in investments and to import what Trump called "record" imports of US natural gas. Japan, together with South Korea, would also partner on a "gigantic natural gas pipeline in Alaska", Trump said. Japan has also failed to win exclusion from 25-percent tariffs on imports into the United States by its massive auto sector that came into force on Thursday. Last year, vehicles accounted for around 28 percent of Japan's 21.3 trillion yen ($142 billion) of US-bound exports, and roughly eight percent of all Japanese jobs are tied to the sector. Japanese carmakers ship about 1.45 million cars to the United States from Canada and Mexico, where they operate factories, Bloomberg News reported. By comparison Japan exports 1.49 million cars directly to the United States, while Japanese automakers make 3.3 million cars in America. kh-hih-stu/kaf/jfx
Yahoo
03-04-2025
- Business
- Yahoo
Japan says US tariffs 'extremely regrettable', may break WTO rules
Japan slammed Thursday as "extremely regrettable" US President Donald Trump's sweeping new tariffs, saying they may break WTO rules and the two countries' trade agreement. Japanese firms are the biggest investors into the United States but Tokyo has failed to secure an exemption, with Trump announcing a hefty 24-percent levy on Japanese imports. "I have conveyed that the unilateral tariff measures taken by the United States are extremely regrettable, and I have again strongly urged (Washington) not to apply them to Japan," Yoji Muto, trade and industry minister, told reporters. He said he spoke to US Commerce Secretary Howard Lutnick before Trump's announcement of a new 10-percent baseline tariff and extra levies on selected countries -- including close strategic ally Japan. "Japan (are) very very tough. Great people.... They would charge us 46 percent, and much higher for certain items," Trump said. "We are charging them 24 percent." Muto said he had explained to Lutnick "how the US tariffs would adversely affect the US economy by undermining the capacity of Japanese companies to invest". "We had a frank discussion on how to pursue cooperation in the interest of both Japan and the United States that does not rely on tariffs," Muto said. Government spokesman Yoshimasa Hayashi also said that the US measures may contravene World Trade Organization (WTO) rules and the two countries' trade treaty. "We have serious concerns as to consistency with the WTO agreement and Japan-US trade agreement," he told reporters. Asked if Japan will impose retaliatory tariffs or is considering filing a suit to the WTO, Hayashi said: "We decline to disclose details of our considerations." - Abe exception - In Trump's first term, then prime minister Shinzo Abe, who had warm relations with Trump, managed to secure an exemption from tariffs. In February, Trump hosted Prime Minister Shigeru Ishiba for apparently friendly and fruitful talks, hailing a "new golden age for US-Japan relations". Ishiba promised a trillion dollars in investments and to import what Trump called "record" imports of US natural gas. Japan, together with South Korea, would also partner on a "gigantic natural gas pipeline in Alaska", Trump said. Japan has also failed to win exclusion from 25-percent tariffs on imports into the United States by its massive auto sector that came into force on Thursday. Last year, vehicles accounted for around 28 percent of Japan's 21.3 trillion yen ($142 billion) of US-bound exports, and roughly eight percent of all Japanese jobs are tied to the sector. Japanese carmakers ship about 1.45 million cars to the United States from Canada and Mexico, where they operate factories, Bloomberg News reported. By comparison Japan exports 1.49 million cars directly to the United States, while Japanese automakers make 3.3 million cars in America. kh-hih-stu/kaf/jfx Sign in to access your portfolio
Yahoo
03-04-2025
- Business
- Yahoo
Japan says it is leaving all options open against Trump's tariffs
TOKYO (Reuters) - Japanese Trade Minister Yoji Muto said on Thursday that Japan is leaving all options open to respond to U.S. President Donald Trump's newly announced tariffs. In a press conference, Muto said he had held an online meeting with U.S. Commerce Secretary Howard Lutnick just before Trump's announcement, to repeat Japan's demand for an exemption from the tariffs, which he called "extremely regrettable". "We need to decide what is best for Japan, and most effective, in a careful but bold and speedy manner," he said, when asked whether Japan would retaliate. Muto said his ministry would establish a task force to analyse the impact of the tariffs, which Trump said would amount to 24% for Japan, and provide information to affected parties. A previously announced 25% tariff on car imports are set to take effect as scheduled on Thursday U.S. time, in a major blow to the Japanese auto industry, which accounts for roughly 3% of gross domestic product. Muto said Japan had "serious concerns" over whether Trump's tariffs were consistent with the World Trade Organisation's framework.
