Statement of the Japanese-US Business Council on Sec. 232 Tariff consultations

WASHINGTON DC- US-Japan Business Council (USJBC) Chairman Doug Peterson and President and CEO of S&P Global issued the following statement after announcing that the United States and Japan are starting consultations to combat the Global steel and aluminum overcapacity and US tariffs on Japanese imports of steel and aluminum under Section 232.

“The US-Japan Business Council welcomes the agreement between the United States and Japan to begin consultations on overcapacity of steel and aluminum and urges the United States government to quickly cancel tariffs on the article 232 on Japan. This will avoid further harm to US manufacturers who are already suffering from soaring steel prices and shortages and, just as important, improve the administration’s ability to work with Japan to address common concerns.

“The US-Japan Business Council has strongly opposed Section 232 tariffs from day one, given the significant negative economic impact being felt here in the US by industry and consumers, the auto industry integrated and global supply chain, and the broader US and Japanese economies.

“We are encouraged by the recent successful visits of Secretary of Commerce Gina Raimondo and US Trade Representative Katherine Tai to Japan to deepen bilateral trade relations. The rapid removal of these Article 232 tariffs will allow our countries to refocus on important issues of mutual interest, notably related to economic security, supply chains and the clean energy transition. The US-Japan Business Council looks forward to continuing to work with the US and Japanese governments to advocate for a mutually beneficial economic relationship.

About the United States Chamber of Commerce

The United States Chamber of Commerce is the world’s largest trade organization representing businesses of all sizes in all sectors of the economy. Our members range from small businesses and local chambers of commerce that line America’s main streets to major industry associations and large corporations. They all share one thing: They rely on the US House to be their voice in Washington, across the country and around the world. For over 100 years, we’ve advocated for business-friendly policies that help businesses create jobs and grow our economy.

About the US-Japan Business Council

Established in 1971, the US-Japan Business Council of the United States Chamber of Commerce is a Washington, DC-based business association whose mission is to advance American business interests in Japan and to promote stronger economic ties between the United States and Japan. USJBC member companies collectively represent a substantial portion of overall U.S. economic activity with Japan and place a high priority on doing business in Japan and help forge the most cooperative and mutually beneficial economic relationship possible between the two countries.