Prime Minister Shigeru Ishiba said Friday that U.S. President Donald Trump's imposition of reciprocal tariffs is a looming

Mr Trump on April 2 announced a hefty 24 per cent levy on imports from its close ally. Read more at straitstimes.com. Read more at straitstimes.com.

A strong U.S. security ally with a large trade surplus, Japan has few options for retaliating against the tariffs. Instead, it is bracing for an economic hit.

Shares of Japanese banks plunged on Friday as U.S. tariffs sparked fears of a slowdown in global growth that could choke off Japan's fragile economy recovery, snuffing out a decades-long effort to return to normal interest rates.

China vowed countermeasures and the E.U. promised a unified response, while Britain and Japan refrained from immediate retaliation.

China, Japan, and South Korea will jointly respond to U.S. tariffs, reports Reuters, citing Chinese state media. The new United States tariffs are set to take effect on April 2. Comments from state media appeared after the three countries held their first economic dialogue in five years on Sunday,

China, Japan and South Korea agreed to jointly respond to U.S. tariffs, a social media account affiliated with Chinese state media said on Monday, an assertion Seoul called "somewhat exaggerated", while Tokyo said there was no such discussion.

US President Donald Trump criticized China's decision to impose a 34% tariff on all US imports, claiming China 'panicked' in response to his recent tr

Cambodia, Laos, and Myanmar were hit with tariffs of 49%, 48%, and 44% respectively.

The S&P 500 fell almost 5 percent on Thursday, its worst drop since June 2020, as allies and adversaries alike criticized President Trump’s action and weighed their responses.