key takeaways
- US President Donald Trump’s announcement of “reciprocal” tariffs has forced the Ishiba government to scramble to assess their impact and prepare an effective response that limits the impact on Japan’s economy.
- The Ishiba government is still hoping to negotiate with the United States instead of introducing retaliatory measures.
- The new tariffs are a blow to Prime Minister Ishiba Shigeru but he could benefit from a “rally around the flag” as a sense of crisis grows.