JapanWants Tariff Cuts From U.S. Over Steel

March 18, 2002 - 0:0
TOKYO Japan has asked the United States to reduce tariffs on seven different Japanese-made items, including video cameras and watches, in compensation for Washington's hefty steel tariffs, Japanese media said on Sunday.

Quoting government sources, Kyodo news agency said the request was made at recent bilateral talks held in Washington.

It added that should the United States not accept the move, as is widely expected, Japan will take the case to the World Trade Organization (WTO) unless Washington makes concessions, Reuters reported.

No official comment was immediately available, but an official at the Ministry of Economy, Trade and Industry (METI) said on Friday Japan was concerned over the U.S. action and it was ready to take all steps warranted under WTO laws.

U.S. President George W. Bush announced earlier this month that Washington would impose duties of up to 30 percent on steel imports from Asia, Europe and Latin America to protect its domestic industry, sparking widespread anger.

The European Union said on Friday it would seek compensation for the tariffs when the two powers meet next Tuesday.

It also accused the United States of aiming to shift the problems of its own ailing steel industry onto the shoulders of more efficient producers in other countries by imposing the tariffs, due to go into force from March 20.

A METI official said on Friday Washington would postpone its tariffs on Japan's steel products for 15 days from the planned launch date next week.

But the official said the reasons for the delay were unclear, and there was uncertainty over whether tariffs would still be levied for that period to april 4 but collected at a later date.