WASHINGTON, D.C. - U.S.-Japan Business Council (USJBC) Chairman Doug Peterson, and President and Chief Executive Officer of S&P Global, issued the following statement after it was announced that the U.S. and Japan had reached a deal on the U.S. Section 232 tariffs on steel.
“The U.S.-Japan Business Council welcomes the agreement between the United States and Japan to partially lift U.S. tariffs imposed on Japan’s steel imports. The U.S.-Japan Business Council has been steadfastly opposed to the Section 232 tariffs since inception, given the significant negative economic impact felt here in the United States by both industry and consumers, the integrated automotive industry and its global supply chain, and the broader U.S. and Japanese economies.
“Following the recent announcement by President Biden and Prime Minister Kishida to launch a “2+2” Economic Dialogue, this agreement will enable our countries to refocus on important issues of mutual interest, particularly related to trade and investment, supply chains, and the clean energy transition. The U.S.-Japan Business Council looks forward to continuing to work with both the U.S. and Japanese governments to advocate for a mutually beneficial economic relationship.”