JAPANESE PM WILLING TO VISIT US TO ADDRESS TARIFF ISSUES WITH TRUMP

TOKYO, April 7 (Bernama-Kyodo) -- Japanese Prime Minister Shigeru Ishiba on Monday reiterated his willingness to meet President Donald Trump to address tariff policies, if needed, saying he would make the case that Japan has not been acting unfairly, Kyodo News Agency reported.

"We must bring up a package on what we are going to do," Ishiba said at a parliamentary committee when asked about his possible trip to the United States, emphasising how Japan has contributed to creating jobs in the United States (US) through investment.

"We must clearly stress that Japan is not doing anything unfair," he also said, apparently alluding to Trump's argument that the US has been "ripped off" by its trading partners as seen by large trade deficits.

Ishiba's remarks came as Trump's sweeping reciprocal tariffs on Japan, along with other countries, are expected to take a heavy toll on its export-oriented economy and have already triggered a sell-off in the Japanese and US stock markets.

Ishiba vowed utmost efforts to ensure the US tariffs do not affect financing and jobs, especially in Japan's smaller businesses.

Chief Cabinet Secretary Yoshimasa Hayashi said at a regular press conference that the Japanese government will "continue to closely monitor economic and financial market developments both at home and abroad with a sense of urgency" and vowed to "do all it can" in terms of economic and fiscal policy management.

With the benchmark Nikkei stock index at one point diving nearly 3,000 points Monday, Finance Minister Katsunobu Kato called on investors to stay "calm."

Ishiba instructed Kato to closely monitor financial markets and take an appropriate response, in a rare Sunday gathering of Cabinet members that also involved Hayashi and Economic Revitalisation minister Ryosei Akazawa.

While Ishiba had also indicated a desire to hold phone talks with Trump, the issue was not discussed during the gathering, according to Kato.

So far, Trump appears unfazed by the global stock market rout, telling reporters aboard Air Force One on Sunday, "I don't want anything to go down, but sometimes you have to take medicine to fix something."

As part of his aggressive tariff policies, Trump on Wednesday announced reciprocal tariffs that will hit all trading partners with a baseline duty of 10 per cent, with Japan to be hit by a higher rate of totalling 24 percent.

The 10 per cent tariff was imposed last Saturday and the higher tariff rate will be added Wednesday.

Since returning to the White House in January, Trump has introduced various types of duties, including an additional 25 per cent tariff on cars produced outside the United States and 25 percent levies on all steel and aluminium imports.

-- BERNAMA-KYODO