Japan threatens to retaliate against US tariffs

[Tinoire]

Japan threatens to retaliate against US tariffs
By Mariko Sanchanta in Tokyo
Published: November 26 2003 11:05 | Last Updated: November 26 2003 21:41

Japan on Wednesday threatened to impose $85.2m in retaliatory tariffs on US imports in response to America's decision to keep its duties on steel imports intact.

Japan officially notified the WTO of a list of "rebalancing" tariffs of up to 30 per cent it would impose on US products including steel, plastics and coal. A Japanese finance ministry committee approved the list of sanctions earlier on Wednesday.

The move by Japan marks the first time it has threatened to impose retaliatory tariffs against its single largest trading partner, and follows a similar threat by the European Union earlier this month to impose tariffs of $2.2bn on US goods.

The threat of sanctions by both the EU and Japan come on the heels of a WTO ruling earlier this month that Washington had violated international trade rules by imposing tariffs on steel imports last March.


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[JailBush]

1. Just $85 million???

Sheez, Bush can easily recoup that money by simply screwing teachers out of a few more benefits. Come on, Japan, stick it to the bastard!