Just weeks after Ishiba and Trump held apparently friendly talks, the duties came as a major blow to Japan, one of Washington's closest economic and strategic allies. Japanese auto shares sank for the second day on Friday.
Announcing the new vehicle tariffs -- pencilled in for next week -- Trump said this week in the White House that America’s trade partners had been “taking our jobs, taking our wealth, taking a lot of things”.
The measures have caused consternation among US allies.
For Japan, Ishiba warned: “The impact this will have on the Japanese economy will be extremely significant. There is nothing to be gained by getting into a big fight over it. We will explain logically (to Washington).
One in 10 Japanese jobs are tied to the automotive industry.
“We believe that the current measures and other broad-based trade restrictions by the US government could have a significant impact on the economic relationship between Japan and the US, as well as on the global economy and the multilateral trading system,“ government spokesman Yoshimasa Hayashi said.
In afternoon trade, Toyota plunged 4.76 percent in Tokyo, Honda fell 4.77 percent and Nissan lost 2.97 percent, extending Thursday's steep losses.
Top trade officials from South Korea, Japan and China were meanwhile set on Sunday to meet in Seoul to discuss economic cooperation, a government source told AFP on Friday.
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