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Japan Is Considering Increasing Tariffs On Some American Products
- May 29, 2018 -

1. Japan is the fourth largest export market in the United States, and imports US products worth more than US $100 billion a year. Other allies, which agreed to restrict themselves, have been exempted, and the EU has been temporarily excluded from its application.

For this reason, Japan is considering retaliatory tariffs on the United States, with a scale of up to 45 billion yen, which is basically the same as the high tariffs imposed by the United States on the imports of steel and aluminum products imported from Japan.

The Japanese government said that as a measure of confrontation, Japan considered a symbolic tariff on the import of some US goods. In fact, whether or not to raise tariffs will depend on future circumstances.

 

2. On the 28, Russia's energy giant En+ group, according to Russia's satellite news agency, was affected by the U. S. sanctions. In 2018, the aluminum production of Russia and aluminum was reduced by 30% under the benchmark scenario, and the output could be reduced by 50% to 70% under the negative situation.

En+ group owns 48.13% of the shares of Russian aluminum.

Russia's "business man" reported that under bad circumstances, Rusal may also close the factory. The product of 3/4 of Russia aluminum is used for export. Due to the drop in exports, Rusal expects its revenues to decrease significantly, which may lead to difficulties in repayment of loans. The newspaper pointed out that as of March 31st, Rusal's net debt was $7 billion 870 million, and between 2018 and 2021 it needed to repay debts of $3 billion 400 million.

In early April, the United States imposed a new round of sanctions against some Russian businessmen and their holding companies, as well as a series of senior Russian officials. Billionaire Jerry Pascal and his company En+ group, Russian Aluminum Company and Gaz Group Gaz are listed on the new sanctions list. The assets held by these companies are also being sanctioned.