Japanese Prime Minister Shigeru Ishiba is in discussions with US President Donald Trump concerning tariff negotiations. Trump has threatened to impose higher tariffs, starting on August 1, if new trade deals are not reached. Ishiba is optimistic about finding a resolution that benefits both nations. Asian markets reacted calmly to the tariff announcements, while Wall Street experienced a decline. Conversations between Ishiba and Trump had previously prevented more severe tariff consequences.
"If, for any reason, you decide to raise your tariffs, then, whatever the number you choose to raise them by, will be added on to the 25% that we charge."
"While the news is disappointing, it does not mean the game is over," said former US trade negotiator Wendy Cutler, referring to the situation with tariffs.
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