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Report: Japan mulling retaliatory tariffs against US

The Japanese government is considering imposing tariffs on U.S. exports worth about $409 million in response to U.S. tariffs imposed by U.S. President Donald Trump on steel and aluminum imports, Japanese broadcaster NHK reported, citing unnamed sources.

The amount to be levied on U.S exports is the equivalent of duties levied by the U.S. through its tariffs, NHK reported. Tokyo, however, does not intend to specify the items subject to tariffs.

Tokyo is expected to notify the World Trade Organization, or WTO, by the end of the week of May 14 that it is ready to take retaliatory action against the U.S. tariffs imposed in March, NHK said.

A government official, however, said no final decision has been made on whether to take retaliatory steps, Reuters reported.

"Nothing has been decided on what specific response we should take. We're scrutinizing the impact of U.S. tariffs on Japanese companies, and calling for Washington to offer Japan an exemption," the official told Reuters on condition of anonymity.

But some officials have not ruled out the possibility of raising a trade dispute against the U.S. move before the WTO, Reuters said.

Japan is the only major U.S. ally that was not exempted from the U.S. tariffs on steel and aluminum. On April 30, Trump extended the temporary exemption from aluminum and steel tariffs for the European Union, Canada and Mexico until June 1, and agreed to permanently exempt Argentina, Australia and Brazil.