U S President Donald Trump has threatened to impose a "30% or 35%" tariff on Japan if a deal between the two countries is not reached before a deadline next week. That would be well above the 24% tariff Japan was hit with as part of Trump's so-called "Liberation Day" on 2 April, when he announced steep import duties on countries around the world.

Why It Matters Early on, Trump had expressed optimism about the potential for a quick trade deal with Japan, as he sought to renegotiate terms with dozens of countries during his reciprocal tariff pause.

US President Donald Trump cast doubt on reaching a trade deal with Japan, a day after threatening higher tariffs on Japanese exports to the United States, claiming the country won’t buy American rice.