Import More, Japanese Trade Minister Urges Skeptic Firms
Japan’s trade minister urged more than 300 major companies today to boost imports this year by at least as much as they did last year, but industry officials expressed skepticism that the plea would have much effect.
“Increases in Japan’s product imports are urgently needed to reduce (Japan’s) huge trade surplus,” Seiroku Kajiyama told officials summoned from 162 of the 313 companies.
He asked the executives to increase imports by more than 30%, rather than the 14.9% projected.
But industry sources said Kajiyama’s request is unrealistic, and some company officials said it is merely a symbolic gesture to show the United States that Japan is trying to import more.
“Businesses have to make profits no matter how strongly the government swings a flag for more imports,” said an official at the Japan Foreign Trade Council, which represents the country’s powerful trading houses.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
