TRADE WAR: Japan pledges allegiance to EU against Donald Trump as the World Trade Organisation (WTO) fight beckons

Japan and the European Union are joining forces together in the disagreement with American President Donald Trump over the country’s aluminium and steel tariffs as a potential global trade war picks up momentum.

A source in the Japanese government has told Reuters Tokyo that the country had declared its intention to join forces with the EU and participate in finding a resolution to the ongoing dispute which has serious future implications on global trade.

The source went on further to reveal that Japans feels as though there are in the same predicament as other nations of the world, so they are interested in having a say in the ongoing talks and information sharing. The main aim of these is to ensure that the Americans go away with these tariffs.

Although, it isn’t certain currently whether the Americans would be interested in the WTO talks after they made their intention to place a 10% and 25% tariff on aluminium and steel imports respectively.

The European Union and the Japanese do not buy the idea that these tariffs are necessary to guide America’s national security and employees. Several countries opine that their steel export is in no way a danger to America’s national security and the main goal of these tariffs are to limit Chinese surplus steel capacity.

There was increased tension at the G7 summit as a result of the increase in tariffs and other countries like Canada, Mexico and the EU have taken steps to impose counter tariffs against the United State, thereby increasing the probability of a complete and total trade war.

Japan is a bit sceptical of going to what could be perceived to be a drawn out and complicated economic fight and there are serious concerns in the country that America might try to control Japanese imports in order the reduce America’s trade deficit.

Contrary to US President Donald Trump’s tweet that America runs a $151 billion trade deficit with the EU, the country is instead running a $14 billion surplus, and has in fact ran a surplus since 2008.

Speaking with German TV network Deutsche Welle, IFO trade guru Gabriel Felbermayr says even though President Donald Trump is actually correct on various issues, he has altered the view of the US-EU trade dealings.

Gabriel went on further to state that President Trump is only concerned with America’s deficit in tangible goods, ignoring the fact that America runs a surplus in terms of corporate profits and technical services.

President Trump has already made his intention known, as he feels that America is currently behind other top economies in the world in terms of trade differences that it really has nothing to lose by going into a trade war

In his exact words; “They do so much more business with us, than we do with them, that we can’t lose. “The numbers are so astronomically against them.”

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贸易战争：世贸战斗迫在眉睫，日本将与欧盟共同对抗特朗普

 

在全球贸易战争愈演愈烈的形势下，欧盟与日本组队，就华盛顿钢铁和铝的进口增税引起的争端，共同对抗特朗普政府。

美国对进口钢铁征收25%的关税，对进口铝征收10%的关税，并声称是保护其国家安全和工人群体，很多国家表示反对，抑制中国的钢铁产能过剩是其主要目的。

七国集团峰会上关税问题加剧，欧盟、加拿大和墨西哥已准备好报复美国，提高进口税。日本担心美国会限制对日本的贸易进口以降低其贸易逆差。

特朗普称美国对欧盟的贸易逆差巨大，但美国对欧盟的往来帐结余为140亿美元。有贸易专家认为他对欧盟和美国贸易关系的理解是扭曲的。