Welcome to NHK Newsline. I'm Morishita Erika in Tokyo.
US President Donald Trump has unveiled his latest round of tariffs against much of the global economy. From Saturday, all countries selling goods to the US will face a minimum baseline levy of 10 percent will be followed by a series of targeted, so-called reciprocal tariffs coming next week.
Trump made the remarks at an event at the White House called Make America Wealthy Again.
I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal, that means they do it to us and we do it to them. Very simple.
They take effect April 9. Japan will face a 24% tariff, while the European Union will be at 20%. Other countries have steeper levies, including China, which has been set at 34%, and India at 26. Trump held up a list showing the tariffs that each country imposes on the US alongside the new levies the US will charge them.
Countries are now reacting to Trump's decision, including here in Japan. Prime Minister Ishiba Shigeru says the measures will have a major impact on bilateral relations.
We've been making requests at various levels to review these one-sided tariff measures.
It's extremely regrettable that they're being implemented despite our appeals.
Ishiba says he'll continue urging Washington to reconsider.
China has also reacted sharply. The country's commerce ministry says Beijing will take countermeasures to protect its interests from the tariffs. It says the US should solve issues with trade partners through equal dialogue.
South Korea is scrambling after the US announced it's getting slapped with a 25% tariff. At an emergency meeting Thursday, Prime Minister and Acting President Han Dok-su told his industry minister to open negotiations with the US to minimize damage.
Australia is getting hit with a relatively low 10% tariff, which Prime Minister Anthony Albanese calls totally unwarranted.
The administration's tariffs have no basis in logic and they go against the basis of our two nations' partnership. This is not the act of a friend.
Albanese says the two countries have dispute resolution mechanisms within their existing free trade agreement. He says he hopes they won't have to use them.
Trump's announcement has driven Asian markets down. In Japan, it prompted a broad sell-off from investors concerned about the impacts of the incoming 24% tariff. Tokyo's benchmark, Nikkei 225, briefly plunged by over 1,600 points, or more than 4 percent, on Thursday. It was the biggest intraday drop so far this year.
The index closed the day at 34,735, down 2.8%.
Auto-related shares were hit especially hard. The benchmark finished below the 35,000 mark for the first time in about eight months. The yen also briefly strengthened to the upper 146 level against the dollar on Tokyo's foreign exchange market.
Investors fear the tariffs could stunt the US economy, as caused US long-term interest rates to drop, making dollar assets less attractive.
Market sources say there's a widespread view that the American levies are higher than expected. They say investors are wary of the incoming effects of the global trade war, as countries begin to retaliate against the US. For more, I spoke earlier with NHK World's senior business correspondent, Esaki Daisuke.
Many countries probably feel like they've been slapped in the face. What has the reaction been like in Japan?
Trump's 24% revenue on Japan has left businesses, both big and small, in shock.
Earlier, I spoke to Kobaishi Shinsuke, a chief economist at Mizuho Securities. He thought the tariff would not exceed 20%, and he's not alone.
The higher rate sent Tokyo stocks stumbling. Other countries and regions across Asia probably feel like Dave Bean has done by, too. Take a look at these figures. More than 30% for China, Indonesia, Thailand, and Taiwan. More than 20% for South Korea, India, and Malaysia. And for Cambodia and Vietnam, the tariffs are close to a staggering 50%.
Trump calls them using the word reciprocal. Is that really the case?
That probably depends on your opinions of Trump himself. He says the tariffs are to rebalance trade deficits and help Americans ailing manufacturing industry.
His logic is that they will make the United States a more attractive place to set up a factory. But economists say the White House has not explained in detail how it came up with a tariff rate by country. And if those countries hit back with their own, the world will likely enter a trade war.
Trade wars are not good for anyone. Can you give us an idea what might happen moving forward?
We will have to wait and see if the world's other economic powerscalled tit-for-tat.
But as things stand, it's fair to say global trade is definitely on choppy waters. Let's use Japan as an example. This country exports more goods to the United States than anywhere else. Last year, about $140 billion in total. Japan's GDP, in real terms, grew by 0.1% last year.
But Mizo securities expert Kobayashi Shunsuke warns Trump's reciprocal tariffs and additional auto tariffs could see GDP shrink by nearly 0.2% point.
And we move on to another extra levy from Trump that has taken effect. Ramin Mellegard from our business desk has the details. So Ramin, fill us in.
Yeah, thank you very much indeed. Let's get into the details. Now, there is another previously announced tariff that risks hurting the global economy. The Trump administration has now started charging an additional 25% on all auto imports as scheduled.
The executive order imposing it that Trump signed in March came into force from 1:00 PM at Japan time. The president has indicated he will also apply the same tariff on key auto parts, including engines, by May 3.
Trump insists that vehicles and parts have been imported at unfairly low prices, causing factories and jobs to flow out of the country. He's suggested the new tariffs will be permanent.
And the Tokyo Stock Exchange plans to raise the standard it sets up for startup companies to remain listed. Now the aim is to urge these smaller ventures to grow fast and attract institutional investors.
TSC officials presented their plan to ruling party lawmakers on Wednesday. The revised regulation would require startups to achieve a market value of at least 10 billion yen, or about $67 million to remain listed.
These venture firms would have to hit this target within five years of going public. Now, the current standard sets a market value of 4 billion yen and a time frame of 10 years.
The market operator plans to apply the new rule from 2030 or later. The TSE operates a three tier system, the prime market for blue chip companies, the standard market for firms expected to expand steadily, and the growth market for startups. Some 600 businesses are listed on the growth market and most of them are small. This makes it difficult to attract institutional investors and the huge funds they like to inject into this sector.
Now, it's been more than a year since a devastating earthquake shook the Noto Peninsula on the Sea of Japan coast. Businesses are still struggling to recover. A local family-run confectionery shop has been selling traditional wagashi for about 150 years, but now it faces one of its biggest challenges.
In the city of Himi, the post-quake reconstruction effort continues. This confectionery shop was badly damaged. There are still cracks in the ground.
The shop managed to stay open during repairs, but the real damage came later. Many residents left the area after the disaster. Sales plummeted 40% compared to pre-quake levels. Head confectioner Hayashi Mayumi says times are tough. But she's determined to show it's possible to keep going in Himi City.
This is the situation for us now. But we think if we can stay in business, it will give hope to people who used to live here.
With fewer customers at home, Hayashi realized she needed to look elsewhere to keep the business alive. She set her sights on Indonesia, where the appetite for Japanese food is growing. The country has the largest economy in Southeast Asia and a population of 280 million.
In January, she got the chance to pitch her sweets to buyers in Jakarta. She presented six types of wagashi, including a plum wine Jelly, but she quickly ran into a challenge. Halal dietary restrictions.
Do you only have jellies with alcohol?
In Indonesia, where Muslims make up nearly 90% of the population, most people avoid alcohol. Some buyers hesitated over the use of plum wine in her jelly. The Muslim population in Indonesia is is very big, it's a majority, and probably most of them don't really consume alcohol as well. So if they can make it in a way a halal version, then it will be available for more people to to try it.
Hayashi realized she would need to tweak her recipes if she wanted to sell in Jakarta.
It was valuable to hear directly from buyers about what they need.
Despite the setback, some products went down well. Wagashi made with mandarins from Toyama Prefecture was received well.
Ohh I can taste the mandarins. They are delicious. Mandarins from Toyama.
Selling wagashi in Indonesia will take more work. adapting to halal, learning about local palates, and finding the right audience. But for the first time in a while, Hayashi sees a path forward.
The moment of truth starts now, and I was able to find a little hope.
Before Hayashi, selling her sweets abroad isn't just about business. It's about keeping her hometown and its traditions alive.
And that is it for Business News. I'm going to hand it back to you.
Thank you, Ramin.
A Japanese medical team is in the country. The doctors and nurses plan to provide care for survivors for about two weeks. State-run TV reports Myanmar's armed forces have announced a temporary ceasefire with pro-democracy fighters and ethnic minority groups. It's set to last about three weeks. Fighting has reached since the military seized power in 2021. Cho Mo-tun was named UN envoy by the elected government before the coup and remains in his post. He says the military may withhold aid from rural areas where pro-democracy forces are active and instead keep it for itself.
I don't trust the military junta because sometimes they're trying to buy time or sometimes they're trying to show the international community that look like they are flexible, but in reality what they are doing is really make difficulty to the people of Myanmar, especially people on the ground.
He says the international community must ensure transparency when providing aid.
A survey by an independent research organization in Russia shows that half of those polled support the ceasefire with Ukraine, while 41 percent are opposed.
The Levada Center has been designated as a foreign agent by Putin's administration. but it continues to conduct independent research and analysis, despite pressure from the Russian authorities. The center released its findings on Tuesday, saying it conducted interviews with more than 1,600 people in Russia between March 22 and 26.
50% supported a 30-day truce between Russia and Ukraine. When asked why they supported truce,29% said they wanted a speedy end to the war. Among those opposed to a ceasefire, 37% replied a truce would give Ukraine time to re-arm. The polls come as Putin agreed with US President Trump last month to pause attacks on energy facilities for 30 days, but they did not agree to a full 30-day ceasefire.
Japanese police say crimes committed by visiting foreign nationals have risen for the second straight year.
The National Police Agency says foreign visitors committed more than 21,000 criminal offenses last year, mainly penal code offenses and immigration law violations. About 12,000 foreign nationals were suspected of involvement. Both figures are about half the peak two decades ago, but are up for the second straight year. Vietnam tops the latest figures with about 4,000 offenders, followed by China and the Philippines. Theft accounted for the majority of penal court offenses, including more than 2,000 cases of shoplifting. The police say they have confirmed cases of organized crime. They say perpetrators got together through social media. They then stole large quantities of items from drugstores and clothing stores and sent them to their home countries. Police say they're stepping up their crackdown on organized crimes committed by groups of foreigners. The numbers of foreign visitors to Japan hit 36.8 million last year...
an all-time high.
In Major League Baseball, Ohtani Shohei of the Los Angeles Dodgers hit the walk of Homer in a game against the Atlanta Braves.
Ohtani started as the first botter and designated hitter. He stepped to the plate for his fifth at bat in the bottom of the ninth with the score tied at 5-5. There was one out and no runners on base. Ohtani slammed the first pitch to center for the game-ending homer. It was Ohtani's third home run this season. The Dodgers beat the Braves 6-5, extending their unbeaten winning streak to eight. since the start of the season.
Half a century of rapid industrialization has made South Korea one of the world's most advanced economies.
But when it comes to worker safety, it still lags behind. NHK World's Kim Chan-ju has more on how the country is trying to reduce fatalities and shed its reputation of being a republic of disasters.
Another accident and another stain on South Korea's record for worker health and well-being. The company in charge of the project quickly apologized.
We will take steps to prevent this kind of accident from occurring in the future and ensure thorough implementation.
Han Chang-hyun, who advocates for safer workplaces, says those steps should have already been taken.
This kind of accident, where the girder of a bridge collapses on a site run by one of the top construction firms in the country, is almost unheard of. It's caused a lot of reflection and has really shown us that we still have a long way to go. Last year, industrial accidents killed about 600 people in South Korea, nearly half of them on construction sites. In fact, as of 2020,The country had the highest rate of construction accident fatalities among OECD countries.
Three years ago, a new law took effect, levying heavy penalties for firms found responsible for job site deaths. And there's a push to improve safety knowledge.
huh
This public organization offers training for engineering students bound for industrial construction.
They experience simulated accidents, learning firsthand why helmets and safety lines are so important, improving their safety skill set for when they enter the workforce.
The training allowed me to personally experience why accident prevention is the most important thing.
The government is also promoting a project to reduce accidents through smart technology. This start-up is developing a smart system to warn workers about potential risks from falls, falling objects, or structure collapses.
Their primary focus is informing foreign workers who are becoming increasingly common in South Korea.
We find out where the workers are from and provide on-site safety information in their language, as well as Korean.
The advocate we spoke to says companies that employ laborers from overseas are often the ones that have the most work to do to decrease fatal accidents.
They have to change their way of thinking, but they're stuck in their ways. They're not eager to educate their foreign staff on safety measures.
Advocates and officials hope these initiatives convince companies to invest in safety, so the cost of doing business here doesn't come with the cost in human lives. Kim Chan-ju NHK World.
♪
It's now time to check out the world weather. The tornado season has kicked off in the United States. Our meteorologist Yumi Hirono has the details.
April is the start of the tornado season, which will peak in May. On Wednesday, 19 tornadoes were reported, mainly in Kentucky, Arkansas and Missouri. One of these causing severe disruptions.
Storms in eastern Missouri caused severe damage to property on Wednesday. Footage shows extensive damage to buildings, cars, and other infrastructure. A report by the State Highway Patrol says a part of a major highway was closed due to the damage.
Local media say authorities are trying to work out recovery efforts.
The risk of tornadoes will continue on Thursday along these developed rain clouds. There are also risks of gusty winds and lightning leading to power outages. On top of that, downpours could be another concern for the area. A stationary front is expected to remain into Sunday, so the total rainfall could be about 400 millimeters from Arkansas to Kentucky. It could be a historic amount and lead to major flooding, so please prepare for severe disruptions.
Moving to Japan, we here in Tokyo have been experiencing well below average temperatures this week. The high on Thursday was only 9.8 with wet weather, but a low pressure system with rain is expected to move away from the mainland. A high pressure system is expected to dominate much of the country on Friday, bringing calm and mild conditions. So sunny weather is expected widely on Friday. The high in Tokyo will jump up to 17 and then 20 on Sunday. Sapporo will also see double digits on Saturday and Sunday. That's all for the weather. Have a nice day.
♫～
That's all for this edition of NHK Newsline. I'm Morishita Erika in Tokyo.
Thank you for watching.
