US EditionJapan Pushes Back on US Call for Tariff Hikes Over Russian Oil
6 Articles
6 Articles
The US is pushing for massive punitive tariffs against countries that buy Russian oil, but Japan warns against the feasibility of new measures.
Japan rejects US call for higher tariffs on China, India over trade with RussiaJapanese Finance Minister Katsunobu Kato has rejected a US call to increase pressure on Russian President Vladimir Putin by imposing higher tariffs on Russian oil imports for China and India. Japan is citing WTO obligations that prevent tariffs from exceeding established limits.
This is reported by Bloomberg.” Japan has committed itself within the framework of the World Trade Organization not to apply tariffs beyond established limits and to treat all member countries fairly if others comply with their obligations under WTO agreements,” Kato said. According to him, “it would be difficult to raise tariffs, for example, to 50%, just because some country buys Russian oil.” His comments came after an online meeting of the G…
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