Japan’s trade minister: Donald Trump could damage global economy

28 Aug 18

Japan’s trade minister has warned the US president Donald Trump could harm the global economy because he does not understand how trade works.

Hiroshige SekoHe also said the trade war between China and the US was a threat to world finances, Hiroshige Seko [pictured right], the Asian country’s minister of economy, trade and industry, said in an interview with the Associated Press. 

The trade war between the world’s two biggest economies escalated last week with boths side imposing new tariffs on goods. 

Seko said the US leader did not appear to understand the importance of free trade and the contribution that foreign companies, such as Japanese, made to the American economy.

He said tariffs on a range of items from auto parts, chemical products, motorcycles, and antennas "works as [an] absolutely no plus for the world economy”. 

Japan could be forced to act and retaliate if the US goes ahead with its threat to put a 25% tariff on Japanese auto parts, he added.

He said: “Japanese auto makers are a major contributor to the American economy.

“If the Japanese auto industry is weakened, it will not be able to invest in the US.”

Picture credit: The Council of the Federation of the Federal Assembly of the Russian Federation

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