Unease grows over Trump tariffs despite 'progress' in Japan trade talks | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
June 14, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JUNE 14, 2025
Unease grows over Trump tariffs despite 'progress' in Japan trade talks

World+Biz

BSS/AFP
17 April, 2025, 05:15 pm
Last modified: 17 April, 2025, 05:19 pm

Related News

  • Trump and Japan PM discuss tariffs, Israel's attacks against Iran
  • Iran says talks with US 'meaningless' after Israel attack, but yet to decide on attending
  • Oil gains while markets assess US-China trade talks outcome
  • US ocean container imports tumble in May as China tariffs take hold
  • China's May exports slow, deflation deepens as tariffs bite

Unease grows over Trump tariffs despite 'progress' in Japan trade talks

Nvidia momentarily dropped more than 10% after disclosing major costs due to new US export restrictions on sending semiconductors to China

BSS/AFP
17 April, 2025, 05:15 pm
Last modified: 17 April, 2025, 05:19 pm
US President Donald Trump speaks on the day of his remarks on tariffs in the Rose Garden at the White House in Washington, DC, US, April 2, 2025. Photo: REUTERS/Carlos Barria/File Photo
US President Donald Trump speaks on the day of his remarks on tariffs in the Rose Garden at the White House in Washington, DC, US, April 2, 2025. Photo: REUTERS/Carlos Barria/File Photo

Uncertainty over Donald Trump's tariff blitz mounted Thursday after the Fed chief warned of rising prices and "volatility" while "progress" flagged by the US president in talks with Japan lifted markets slightly.

Trump is banking that his tariffs will lead to a bonanza of beneficial trade deals, lowering barriers to US products and shifting global manufacturing to the United States.

But his trade negotiations -- including with Japan on Wednesday -- are proceeding against a backdrop of deepening confrontation with economic rival China and mounting concern over widespread disruption.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Federal Reserve boss Jerome Powell said Wednesday that tariffs are "highly likely" to provoke a temporary rise in inflation and could prompt "more persistent" price increases.

He also noted the "volatility" in the markets at a "time of high uncertainty."

That unease hit Wall Street, where the Nasdaq at one point plummeted more than four percent on Wednesday, the S&P more than three percent and the Dow Jones more than two.

Nvidia momentarily dropped more than 10% after disclosing major costs due to new US export restrictions on sending semiconductors to China.

Asian markets were mostly in positive territory on Thursday, with Japan's Nikkei up almost one percent and the Hang Seng 1.25% higher.

World Bank chief Ajay Banga echoed Powell, saying that "uncertainty and volatility are undoubtedly contributing to a more cautious economic and business environment."

And World Trade Organization head Ngozi Okonjo-Iweala said the uncertainty "threatens to act as a brake on global growth, with severe negative consequences for the world, the most vulnerable economies in particular."

China says 'no winner

While most of the rest of the world has been slapped with a blanket 10% tariff, China faces new levies of up to 145% on many products.

Beijing has responded with duties of 125% on US goods.

"If the US really wants to resolve the issue through dialogue and negotiation, it should stop exerting extreme pressure, stop threatening and blackmailing, and talk to China on the basis of equality, respect and mutual benefit," Chinese Foreign Ministry spokesman Lin Jian said Wednesday.

China said on Wednesday that it saw a forecast-beating 5.4% jump in growth in the first quarter as exporters rushed to get goods out of factory gates ahead of the US levies.

But Heron Lim from Moody's Analytics told AFP the impact would be felt in the second quarter, as tariffs begin "impeding Chinese exports and slamming the brakes on investment."

Japan test case?

After meeting Japan's tariffs envoy, Trump posted on his Truth Social platform that there had been "big progress".

But after Ryosei Akazawa concluded his talks with Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer it became clear that no immediate breakthrough was made.

"Of course, the discussions going forward won't be easy, but President Trump has expressed his desire to give the negotiations with Japan the highest priority," Prime Minister Shigeru Ishiba said in Tokyo.

"We recognise that this round of talks has created a foundation for the next steps, and we appreciate that," Ishiba said.

But he added: "Of course there is a gap between Japan and the US."

Japanese companies are the biggest investors into the United States and Japan is a vital strategic ally for Washington in the Asia-Pacific region.

But Japan is subject to the same 10% baseline tariffs imposed by Trump on most countries as well as painful levies on cars, steel and aluminum.

Trump reportedly wants Japan to buy more US defense equipment and to do more to strengthen the yen against the dollar. Akazawa said that the latter issues was not discussed.

Stephen Innes at SPI Asset Management said before the talks that traders were "waiting to see if Akazawa can thread the needle - cut a side deal, dodge Trump's sledgehammer, and limp out with bruises instead of a shattered jaw."

Officials from Indonesia held talks in Washington on Wednesday. The finance minister of South Korea, a major semiconductor and auto exporter, will meet Bessent next week.

Although popular among Republicans, the tariffs war is politically risky for Trump at home.

California Democratic Governor Gavin Newsom announced he was launching a new court challenge against Trump's "authority to unilaterally enact tariffs, which have created economic chaos, driven up prices, and harmed the state, families, and businesses."

Top News

Japan / Trade / United States (US)

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Burnt out cars and damaged buildings are all that’s left of this street in Ramat Gan Credit: AP
    Iran threatens to strike US, UK, and French bases if they help defend Israel
  • Chief Adviser Professor Muhammad Yunus of the Bangladesh interim government. Sketch: TBS
    UK lawyers hired to recover stolen money: CA Yunus
  • News of The Day, 14 JUNE 2025
    News of The Day, 14 JUNE 2025

MOST VIEWED

  • Energy adviser Fouzul Kabir Khan with other government officials during a visit to Sylhet gas field on 13 June 2025. Photo: TBS
    I would disconnect gas supply to every home in Dhaka if I could: Energy adviser
  • Infographic: TBS
    Govt plans incentives for Bangladeshis bringing in foreign investment
  • Tour operator Borsha Islam. Photo: Collected
    ‘Tour Expert’ admin Borsha Islam arrested over Bandarban tourist deaths
  • BNP Acting Chairperson Tarique Rahman and Chief Adviser  Muhammad Yunus meet at Dorchester Hotel in London, UK on 13 June 2025. Photo: CA Press Wing
    National polls possible in 2nd week of February, agree Yunus, Tarique in 'historic' London meeting
  • Infographics: TBS
    220MW solar power plant planned in Feni
  • Rescuers work at the scene of a damaged building in the aftermath of Israeli strikes, in Tehran, Iran, June 13, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
    Tehran retaliates with 100 drones after Israel strikes Iran's nuclear facilities, kills military leaders

Related News

  • Trump and Japan PM discuss tariffs, Israel's attacks against Iran
  • Iran says talks with US 'meaningless' after Israel attack, but yet to decide on attending
  • Oil gains while markets assess US-China trade talks outcome
  • US ocean container imports tumble in May as China tariffs take hold
  • China's May exports slow, deflation deepens as tariffs bite

Features

Photos: Collected

Kurtis that make a great office wear

1d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

3d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

4d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

5d | Features

More Videos from TBS

News of The Day, 14 JUNE 2025

News of The Day, 14 JUNE 2025

59m | TBS News of the day
Major General Hatemi is the new chief of staff of Iran's army

Major General Hatemi is the new chief of staff of Iran's army

1h | TBS World
Israel-Iran conflict: 45-year enmity now taking full military form

Israel-Iran conflict: 45-year enmity now taking full military form

1h | Others
How did the United States help prevent an Iranian attack?

How did the United States help prevent an Iranian attack?

3h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net