Japan announces $15.5-bn package to protect SMEs from US tariffs

The package includes help with corporate financing and easing of loan conditions at a government-backed lending institution, the country’s chief cabinet secretary Yoshimasa Hayashi told a press conference.

Japan faces the same 10-per cent baseline tariffs imposed on most nations, apart from steeper tariffs on cars, steel and aluminium. President Donald Trump also announced 24-per cent ‘reciprocal’ tariffs on Japan in early April, but later paused them along with similar measures on other countries until early July.

Japan wants all levies on its imports announced by Trump lifted.

ALCHEMPro News Desk (DS)