According to a recent speech by Japan’s Iron & Steel Federation Chairman Koei Shindo, also the president of Nippon Steel & Sumitomo Metal Corp, “Japan will need to take a cautious stance when talking with the US about country exemption as the discussion could develop to wider trade issues.” He pointed to the recent South Korean negotiations which resulted in a quota and changes in the bilateral trade agreement.
He stated that Nippon Steel, Japan’s largest steelmaker, is working with US customers to have some of their products exempted. He noted that they have not encountered cancellations by US customers based on the new tariff since many Japanese products are highly value added or specialize and “there are not quickly available substitutes.” He proceeded to recommend that other Japanese steelmakers should also focus on product exemptions.