Economy

Japan Business Group Chair Welcomes Outcome of Tariff Talks, But Also Say 15% Reciprocal Tariff ‘By No Means Low’

Yomiuri Shimbun file photo
Yoshinobu Tsutsui, the chair of Keidanren (Japan Business Federation)

The Yomiuri Shimbun

20:00 JST, July 23, 2025

Yoshinobu Tsutsui, the chairperson of Keidanren (Japan Business Federation), on Wednesday praised the outcome of Japan-U.S. tariff negotiations as the result of long-running, persistent talks focused on national interests.

“The parties concerned made earnest efforts within the framework of the negotiations and achieved a successful outcome,” Tsutsui told reporters.

Tsutsui said he was greatly concerned about automobile tariffs, as they will have a significant impact on the broad-based automobile industry, including related businesses. “But I want to praise the reduction in the tariffs as a positive outcome of the talks,” he said.

At the same time, however, Tsutsui said a ‘reciprocal tariff’ of 15% is “by no means low, considering the domestic economy.”