{"id":1835,"date":"2018-09-19T22:55:51","date_gmt":"2018-09-19T22:55:51","guid":{"rendered":"http:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/?p=1835"},"modified":"2018-09-20T00:19:07","modified_gmt":"2018-09-20T00:19:07","slug":"japan-calls-for-early-solution-to-u-s-china-trade-war","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/2018\/09\/19\/japan-calls-for-early-solution-to-u-s-china-trade-war\/","title":{"rendered":"Japan calls for early solution to U.S.-China trade war"},"content":{"rendered":"

TOKYO (Reuters) – Japanese policymakers on Tuesday called for an early solution to the escalating U.S.-China trade war and warned of the potential damage to global growth in the wake of President Donald Trump\u2019s decision to slap new tariffs on China.Asian shares fell on Tuesday after Trump said he will impose tariffs on an additional $200 billion worth of Chinese imports, in a sharp escalation of the trade conflict between the world\u2019s two biggest economies.<\/span><\/p>\n

\u201cTit-for-tat tariff retaliation benefits no country,\u201d Japan\u2019s Economy Minister Toshimitsu Motegi told reporters after a regular cabinet meeting.<\/p>\n

Finance Minister Taro Aso said while global trade imbalances must be fixed to avoid another financial crisis, the United States and China must address the problem through dialogue instead of slapping retaliatory tariffs on each other.<\/p>\n

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\u201cThe world\u2019s biggest and second largest economies must hold dialogue appropriately,\u201d Aso told a briefing on Tuesday.<\/p>\n

\u201cDeclines in trade volume means contraction of their economies, and the impact on other countries will become large.\u201d<\/p>\n

Trade minister Hiroshige Seko also said Trump\u2019s decision to impose new tariffs on China was \u201cextremely regrettable\u201d as it could hurt the global economy and could have unintended consequences on other economies.<\/p>\n

He said the government would scrutinize how the trade spat could affect Japanese companies, which may see sales hit if global supply chains are disrupted.<\/p>\n

\u201cThere are quite a few Japanese companies who ship parts to China, which are then assembled (as final goods) and exported to the United States,\u201d Seko told a news conference.<\/p>\n

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The intensifying trade friction is among risks the Bank of Japan will scrutinize at its two-day rate meeting that ends on Wednesday.<\/p>\n

While many Japanese policymakers do not see the trade woes as an immediate threat to the country\u2019s economic recovery, they fret that the damage could be serious if Trump decides to raise tariffs on automobile and auto parts imports.<\/p>\n

Some policymakers also worry that Japan may come under pressure from Trump to open up its sensitive agriculture market through a bilateral free trade agreement.<\/p>\n

Prime Minister Shinzo Abe and Trump are scheduled to meet for a summit on the sidelines of a U.N. General Assembly General Debate starting Sept. 25. Motegi and U.S. Trade Representative Robert Lighthizer will likely hold a second round of trade talks ahead of the summit.<\/p>\n

Motegi told reporters that he would likely make an announcement shortly on when the trade talks will be held.<\/p>\n","protected":false},"excerpt":{"rendered":"

TOKYO (Reuters) – Japanese policymakers on Tuesday called for an early solution to the escalating U.S.-China trade war and warned of the potential damage to global growth in the wake of President Donald Trump\u2019s decision to slap new tariffs on China.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1835","post","type-post","status-publish","format-standard","hentry","category-article"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/1835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=1835"}],"version-history":[{"count":2,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/1835\/revisions"}],"predecessor-version":[{"id":1847,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/1835\/revisions\/1847"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=1835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=1835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=1835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}