Japan trade minister plans US visit in March to seek tariff exemptions, Asahi reports

Japan's Trade Minister Yoji Muto plans to visit the U.S. in March and will seek exemptions from Trump administration plans to set import tariffs on steel and cars, the Asahi newspaper reported on Thursday.

Muto is arranging meetings with newly confirmed U.S. Commerce Secretary Howard Lutnick, Energy Secretary Chris Wright and other top officials also to discuss plans to buy more American natural gas and Nippon Steel's stranded bid to acquire U.S. Steel, according to the report.

Japan has asked the U.S. to exempt it from steel and aluminum tariffs, Muto said last week.

After U.S. President Donald Trump's remarks to put 25 percent tariffs on car imports from April, officials said Tokyo has impressed upon Washington how important the car industry is to Japan's economy.

Carmakers such as Toyota, Honda and Nissan and their suppliers employ more than 5 million people in Japan, representing some 8 percent of the country's workforce, according to a trade group.

The transport machinery sector, including cars, produces about 3 percent of Japan's GDP, the government said in a Wednesday report, highlighting the potential impact of tariffs.

Nearly 90 percent of Japanese firms see Trump's policies as harmful to their business environment, a Reuters survey of major Japanese companies found.

Muto aims to visit the U.S. by March 12, when the 25 percent tariffs on U.S. imports of steel and aluminum are due to take effect, but the schedule is fluid depending on Japanese parliament budget sessions, Asahi reported, citing multiple unnamed government sources. (Reuters)