From our studios in Tokyo, this is NHK Newsline. I'm Ross Mihara. We have breaking news.
China has announced it's imposing additional tariffs of 125% on US imports effective Saturday. The move is in retaliation for US President Donald Trump's 145% levies on Chinese goods. Once again, China has announced it's imposing additional tariffs of 125% on US imports effective Saturday.
The move is in retaliation for Trump's 145% levies on Chinese goods.
Officials in Washington said on Wednesday that the amount of additional tariffs they've imposed is 125%. Now they say the figure is even higher at 145%.
Trump imposed additional tariffs of 20% on China shortly after taking office. The White House has clarified that the 125% figure refers to the so-called reciprocal tariffs on top of that. Trump told reporters on Thursday that he's looking to work out a deal.
We're resetting the table and I'm sure that we'll be able to get along very well. I have great respect for President Xi. He's been in a true sense. He's been a friend of mine for a long period of time and I think that we'll end up working out something that's very good for both countries.
But China is hitting back with an additional tariff on US imports and it's engaging in cultural retaliation. The film administration announced a reduction in the number of American movies it will allow in. It suggests it will meet the demand of the world's second largest movie market with films from other countries, and the tourism ministry is advising travelers to reconsider trips to the US. The Director General of the World Trade Organization is sounding the alarm about the impact on global trade. She urged all members to seek cooperation through dialogue. She says trade between the US and China could decrease by as much as 80 percent and severely damage the global economy. And she warned that the dispute could divide the world into two separate trading factions and decrease overall GDP by nearly 7 percent.
The Japanese government is preparing to negotiate with the Trump administration amid the growing uncertainty surrounding US tariffs.
Prime Minister Ishiba Shigeru has appointed the revitalization minister to spearhead the strategy. Ishiba told Akazawa Ryose to look for ways to cooperate with the US that will benefit both countries. Ishiba met ministers of his cabinet at the Prime Minister's office on Friday. He told them that Trump's tariffs can be seen as a national crisis.
Despite a series of approaches from Japan, a tariff of 10 percent has been implemented in addition to extra tariffs on automotive parts and other items. This could have a major impact on all industries in Japan.
The Prime Minister added that the situation remains unpredictable despite a 90-day suspension of higher tariffs.
I request the Economic Revitalization Minister to make a comprehensive adjustment for us to implement the necessary support, such as financial measures based on the impact on domestic industries. Ishiba said an all-hands-on-deck response is imperative to tackle the situation. The sudden changes in the Trump administration's policy have Japanese business leaders and others scrambling to adjust. This sake brewer in Kyoto is aiming to boost exports. It was concerned that 24% reciprocal tariffs may raise prices in its overseas markets and discourage customers from buying its products.
I was very surprised at the news when I woke up this morning. I never thought the suspension would happen. The US is important for our business, but I think it's necessary to take measures to do without the country.
There seems to be a rush of last minute export shipments. This distribution firm booking cargo transport in and outside Japan is busy answering inquiries.
Many customers are in a wet and see mood, but I think the sudden demand for air cargo will continue.
Airline and distribution firms say they are getting more requests from manufacturers and trading firms for shipments to the US before additional tariffs take effect. The shipments involve a broad range of products, including auto parts, semiconductors, medical supplies and industrial goods.
Suffice to say, the Japanese government has a lot on its plate in this ever evolving tariff situation. Earlier, I spoke with our political correspondent Shimada Yukiko to delve further into the major issues at play and how the Ishiba administration is trying to tackle them.
Yukiko. It's a little hard to keep up. To remind people watching, the US hit Japan with a 24% tariff this month before quickly dropping it to 10% as part of a 90 day pause to set up new trade deals.
But that 24 number could still come back. How does Tokyo make sense out of it?
The government says it doesn't understand how the US arrived at that figure. Prime Minister Ishiba has continued to point out that Japan has contributed a lot to the US economy.
Just this week, he told Trump by phone that Japan has been the largest investor in the US five years in a row.
Ishiba says Japan should not be treated the same as other countries. He says the government will continue to call for a review of the levies.
Washington is also criticizing Japan over its own tariffs. It claims Japan has a 700% tariff on rice. Tell us about the response to that.
Tokyo says the claim is illogical. While it's true there is a tariff, the US is not portraying it accurately. Japan has a mandatory tariff-free import quota. The amount for the US totals are almost 350,000 tons. That's almost half of the entire tariff-free import quarter.
Imports outside of this are subject to a levy of 341 yen per kilogram, about $2.30. So America's claim about the 700% tariff does not reflect reality.
Now, tariffs aren't the only things on Trump's mind. He's also brought up other barriers, including automobile-related standards and certification procedures. What's the Japanese government's take on that?
It explains that Japanese standards and certification procedures for automobiles are in line with UN standards. But it also says it's listening to Trump's concerns. The US Trade Representative says the standards for electric vehicle chargers in Japan are preventing foreign manufacturers from entering the market. Japan's economic minister said on Friday it's unclear whether this is a reason why American cars don't sell well here. But he says he will respond after understanding this concern raised by the US. The big focus now is on a new trade deal with the US. Ishiba says the government will pursue a wide range of cooperation that will benefit both countries.
Now let's see what's happening in the world of business. Here's Gene Ohtani from the Biz Desk.
Investors offloaded shares across the board. Tokyo's benchmark Nikkei 225. briefly dived by more than 1,900 points, or about 5.7 percent.
Some investors later bought back discounted stocks, helping the index to recover some ground and closed the day at 33,585.
That's down just over 1,000 points, or almost 3 percent. It was a sharp retreat from Thursday when the benchmark surged by 9.1 percent, with its second biggest single day point gain ever. Friday's slump has completed a week of dramatic swings on the Nikkei index.
Meanwhile, the Japanese currency appreciated against the dollar in Tokyo. At one stage, it climbed to the upper 142 yen range. It's the first time in about six months that it's reached that level.
Analysts say investors sold the dollar on concerns that the US-China fight could hurt the American economy.
The drawn-out saga of Nippon Steel's buyout bid for US Steel has taken another turn. Earlier this week, President Donald Trump indicated he might be warming to the plan. Now, he's pouring cold water on it again.
And we love Japan. But for a foreign country to buy that cherished US Steel brand, that's hard for me to do.
Trump has previously said he opposes the buyout deal, but on Monday he instructed a national security panel to take another look at the transaction. The directive gave people on the Japanese side reason to be upbeat.
But any hope they may have felt is likely fading after Trump's latest remarks. The president claimed Nippon Steel has come back to the table as an investor. He said he feels better about that arrangement. Nippon Steel has made it clear it remains committed to acquiring the American firm.
The US president's tariff policy has been the talk of the world. It was also on the minds of many attending a Japanese sake tasting event in New York.
The Joy of Sake Gathering was held in Manhattan on Thursday. It featured over 500 varieties of rice wine from both sides of the Pacific. A US nonprofit organized the event. Japanese breweries have been voicing their concerns about the impact of Trump's so-called reciprocal tariffs on their sales in the US. A representative from a Niigata prefecture brewer said that New York is one of its most important markets for its brand.
We're worried that prices could go up by as much as 50%, and if we take the economic situation into account, customers are unlikely to buy our products anymore.
One visitor from New York reacted to the possibility of higher prices for Japanese sake.
I think it's ridiculous, and I hope they're not, and I hope we can continue to get excellent sake in America.
Some Japanese brewers produce sake in the US This firm says it's not worried about the tariffs, but it still sees challenges ahead. Asahi Shizo from Yamaguchi Prefecture began brewing sake in New York two years ago amid the growing popularity of Japanese rice wine. Today, rice produced in the southern state of Arkansas accounts for 60% of the grain used for the Dasai Blue brand made in New York.
Company Chairman Sakurai Hiroshi said production costs rise in the country with high wages. He added that his firm took a risk when they started US production as they had to adapt to local laws and culture.
Next, NHK World's John LeDoux is here with BizPicks for a look at the upcoming business and economic stories we'll be tracking.
So the question is, can it be achieved?
Wakabayashi Otsuki. Hito, a senior economist at Japan Research Institute, is optimistic.
I think the economic impact of 2.9 trillion yen is achievable. It can largely be divided into three elements.
The effects of construction investment are emerging. Expenditures for the expo's operations and events will almost likely to be spent as planned. So the focal point is consumption by visitors. And visitors begin to relate their experiences at the venue through social media and other means. I think that will encourage more people to come.
Wakabayashi notes that the Expo is getting a boost from Japan's ongoing tourism boom. The country saw a record more than 36.8 million foreign visitors last year. He says the real test is whether the demand stimulus from Osaka 2025 can lead to something sustainable.
What's more significant than the short-term benefits is whether Japan will succeed in efforts contributing to the country's growth in the long run, even though it is difficult to calculate their value.
One of the expected legacies of the event is growth in fields related to life science.
One advanced medical technology that is likely to attract attention is an artificial beating heart made of IPS cells. Such technology is expected to be used to treat patients with serious heart diseases in the future. The Osaka Healthcare Pavilion will feature exhibits from more than 400 small and emerging local businesses rotating on a weekly basis. This is expected to give them opportunities to form ties with their global peers.
Japan has been a leading country in life science technology, especially its research and development. But when it comes to producing business results in this area, Japanese firms lag a little behind Western pharmaceutical giants and medical equipment makers.
I hope Japan will promote its technology overseas using the Expo and rise to the top in the life science sector.
Now, during the expo, there will also be a number of large-scale international exhibitions and matching events for startups at various locations in Osaka.
That's seen as a great opportunity for Japanese businesses. I'm John LaDue, and that wraps it up for this week's BizPicks.
All right, John, thanks. Let's have a look at the markets.
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And that's a look at business news. Ross, I'm going to hand it back to you.
All right. Thanks, Gene.
NATO's Secretary-General Mark Rutte has visited Japan for the first time since taking office last October. He says right now his alliance needs Japan's strength and industry as China becomes an emerging threat. NHK World's Sugita Sachiyo has the story.
Rutte kicked off his two-day trip with an up-close look at how Japan could defend itself during a time of crisis. boarding a free aid, and getting briefed Japanese defense capabilities and equipment.
He then toured a Mitsubishi electric plant where he watched workers assemble a satellite. That company is also helping to create a next-generation fighter jet being co-developed by Japan and NATO members Britain and Italy.
When it comes to defense, for example, air defense systems, but also space.
And And these are all areas where we really, as NATO, want to work more closely with Japan. NATO is made-up of 32 countries across Europe and North America that have committed to protecting each other from any threat. Japan is not a member, but it has cooperated closely with the alliance especially since Russia's invasion of Ukraine.
NATO has provided weapons, while Japan, which has historically avoided giving arms to a country at war, has delivered mostly humanitarian support.
Rutte says it's not for him to advise Japan's government on arms sales. But he does hope the country's defense industry becomes more involved.
Whatever we can do to expand that, of course we would love it, because you you have a huge and successful defense industry, because we need you, Japan, with all strength and its power and its economy and its defense industrial base.
China's recent behavior is driving NATO to shore up its ties with Japan. as well as other Indo-Pacific partners like Australia, New Zealand, and South Korea.
Rutte says Beijing is not just a growing military threat. It's also helping Moscow weather economic sanctions.
China is is a key enabler of the Russian war effort in Ukraine.
China is rapidly building up its own armed forces. They still try to project this position of neutrality when it comes toUkraine and Russia, this is crazy because they are not neutral. They are very much involved. They are one of the key enablers. So let's not be naive. For example, it comes to space where Japan is really at the cutting edge. I think that will be helpful, particularly now with what is happening in China.
At the same time, NATO is having issues with its largest member. US President Donald Trump has questioned whether his country is getting enough value for the amount of money it spends on the alliance. Some members are now starting to ask whether the Trump administration is committed to defending them. Add to that the recent US tariffs creating even more friction, something Ruta acknowledges.
The tariff fight will have an impact on individual allies. And of course, we are worried about that because that could also impact their power in terms of investing more in defence when it comes to the real money.
Even so, Ruthus says he's confident in his ability to work with Trump.
He also says NATO remains focused on collective defenceand developing ties with its partners. When he met with Japanese Prime Minister Ishiba Shigeru, they both agreed that security in the Euro-Atlantic and Indo-Pacific are interconnected.
I have every intention to keep strengthening our already significant partnership and relationship, because in a more dangerous world, we are so much stronger than we work together.
Tokyo and Brussels may be oceans apart,But with the changing tides, they're closer than ever before. Sugita Sachiyo NHK World.
Six people have been killed after helicopter crashed into waters just outside of Manhattan on Thursday. Local media reported that the victims included an executive of German based technology company Siemens and his family.
Officials said the helicopter crashed into the Hudson River near Manhattan at around 3:00 PM. Six people on board were confirmed dead after they were pulled out of the river. Media reports say in addition to the pilot, Siemens executive Agustin Escobar, his wife and three children were killed in the crash. Local media reported that the family of five was visiting from Spain. The report also quoted a witness as saying the helicopter split up in mid air. Helicopters carrying tourists and business passengers are a common sight in the skies above Manhattan. Authorities have launched an investigation into the cause of the accident.
Ukraine's president has released a video claiming to show an interview with a Chinese man captured while fighting for Russia. Vlodimir Zelenskyy had revealed earlier this week that two Chinese men had been taken prisoner in the eastern region of Donetsk. NHK has blurred the video and modified the man's voice. It shows him answering questions in Chinese.
He says he was acting under the command of a Russian and that he communicated through gestures.
When we were hiding in a shelter, a drone attacked us and it damaged my weapon.
He says he went to Russia without quitting his job as a rescuer in China.
When asked about a possible prisoner exchange, the man says he doesn't want to return to Russia. He expresses his hope to go back to China. Zelenskyy wrote in his social media post that these cases are systematic Russian efforts to recruit Chinese citizens for the military offensive.
The chopper went missing off Nagasaki Prefecture with six people on board. It was later found floating in the sea. A patient in her 80s, her son, and a doctor died. The pilot and two others are now receiving medical treatment. The pilot reportedly told the aircraft operating company he heard a sound from the back of the helicopter when it was flying at an altitude of about 150 meters. He said it was a noise he had never heard before. He described it as metal being torn apart or something being sucked up. Investigations by the Japan Transport Safety Board suggests the helicopter's rotor was still spinning when it hit the water. The wreckage will undergo further examination.
It's now time to check the world weather. It's only April, but India has been bracing for heat this week. Our meteorologist Yumi Hirano has details.
Northern India has been hit by a heat wave that arrived earlier than usual.
Temperatures exceeded 40 degrees at many observation points on Thursday. In one location, it reached 46.5. So not only people, but also animals are dealing with scorching conditions.
Himalayan black beers in Udaipur stay cool in the scorching summer heat with fruits, ice cream, and cold drinks on Thursday. The city had temperatures over 40 degrees this week. Their food had salt and sugar to help keep them stay hydrated. A lion was also sprayed with water inside its cage.
The heat of around 40 degrees will continue until the monsoon starts.
Saturday, showers will ease the heat a little, however, temperatures will stay high in many cities, 36 in New Delhi and 39 in Hyderabad.
Now moving to East Asia, a low pressure system near western and eastern Japan is bringing severe weather, including thundershowers and lightning strikes on Friday. And the late winter storms are hitting northern China. Between low and high pressure systems, windy and blizzard conditions will occur. That could lead to structural damage and power outages. And another system will bring heavy rainfall to southern China.
Up to 120 millimeters is possible in Jiangxi province by Saturday afternoon.
And the same system will impact Japan over the weekend on Saturday. Sunny weather is expected in many cities, including Tokyo. However, the next round of rain will start from Fukuoka on Saturday and then spread across the country into Sunday. So the high in Tokyo will drop to 16.
That's all for the weather. Have a nice weekend.
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I'm Ross Mihara in Tokyo, and that's all for now on NHK Newsline. Thanks for being with us.
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