In a recent press conference, Japan’s Iron and Steel Federation (JISF) Chairman and JFE Steel president Koji Kakigi told of concerns of an intensifying US-China trade conflict that could lead to the “collapse” of the present global trade order if the World Trade Organization’s (WTO) framework is undermined.
He said he also hoped for the US to maintain its 90-day review promise on exemptions to the steel and aluminum tariffs.
Kosei Shindo, also of JISF, further noted that Japan is unlikely to pursue retaliatory actions against the US due to its import tariffs on aluminum and steel. Shindo noted that US tariffs have had little effect on Japan’s exports of the relevant products to the US as well as the need for countries to address differences through the WTO.