As expected, Japanese Prime Minister Yasuhiro Nakasone was unable to bring about a quick lifting of the 100% tariffs imposed by the US on selected Japanese goods when he visited Washington last week. The tariffs were imposed by the Reagan administration on April 17 in retaliation for Japan’s supposed failure to live up to the articles of the US-Japan semiconductor trade agreement. Nakasone was told that the tariffs will not be lifted until there was clear evidence dumping had been stopped in third-country markets. Most observers don’t expect the sanctions to be lifted before mid-June.
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