Japan's Akazawa: We Strongly Urge Review of Tariff Policy

Japan's Akazawa Calls for Urgent Review of Tariff Policy

Tokyo, May 29, 2025 – Japanese Economy Minister Ryosei Akazawa stated on Thursday that the government’s fundamental position is to strongly urge a review of the nation’s current tariff policy.

Speaking to the media, Akazawa emphasized that trade policy and national security are distinct issues and should not be negotiated simultaneously.

“Trade policy and national security are different matters and cannot be negotiated simultaneously,” Akazawa said.
“Our basic stance is to strongly urge review of tariff policy.”

His comments come at a time when Japan is navigating complex global trade dynamics, with ongoing shifts in supply chains and trade relations with key international partners. The call for a tariff policy review suggests potential changes in Japan’s approach to protecting domestic industries while maintaining its global trade commitments.

Market Reaction

Following Akazawa’s remarks, the Japanese yen weakened against the US dollar. The USD/JPY pair rose by 0.74% on the day, trading at 145.91 at the time of reporting.

Traders interpreted the statement as a possible signal of forthcoming economic policy adjustments, which could influence Japan’s trade flows and international competitiveness.