
Japan is running out of time to save itself from Trump’s tariffs
‘This is a serious situation for Japan’. That was the verdict of the business editor on NHK’s morning news programme today. Given the normally exquisite understatement of Japanese broadcasters, this kind of language suggests a full-blown crisis is looming. The crisis in question is the Trump administration’s declaration that it would be slapping a 25 per cent duty on all Japanese goods (separate to sectional tariffs already in place) to kick in from 1 August. This outcome is not set in stone and there is still the possibility of further movement in the remaining three weeks or so. But with Trump calling Japan ‘spoiled’ in recent soundbites and the Japanese
