Japan Threatens Retaliatory Tariffs
From Associated Press
Japan has put the United States on notice that it will slap $85 million in retaliatory tariffs on American imports unless Washington abandons steel tariffs ruled unfair by the World Trade Organization.
The threat was the latest salvo in an escalating trade dispute involving the world’s biggest economic powers. Japan has never resorted to sanctions against its closest trading partner since the Geneva-based trade watchdog was formed in 1995.
Since the early 1990s, Japan and the United States have dueled over semiconductors, autos and auto parts, insurance, airplane routes and photographing film. Those disputes all ended up in last-minute settlements.
