tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Trump Threatens New Tariffs as Japan Rejects U.S. Rice

Trump Threatens New Tariffs as Japan Rejects U.S. Rice

Japan has experienced a rice shortage for about two years now as the country deals with extreme heat and natural disasters that have lowered harvest output. However, President Trump claims that the country won’t accept rice from the U.S.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

“To show people how spoiled Countries have become with respect to the United States of America, and I have great respect for Japan, they won’t take our RICE, and yet they have a massive rice shortage,” said Trump in a Truth Social post on Monday.

Trump Threatens Japan with New Tariffs

Trump also warned that the U.S. would send Japan a letter, likely a reference to a letter with a new tariff rate.

The numbers tell a different story. Japan imported 10,605 tons of tariffed rice in May, up by nearly 10x from 115 tons a year ago, according to Japan’s Finance Ministry. Of the 10,605 tons, the U.S. was responsible for 7,894 tons, or about 75% of the total imports. In 2024, Japan purchased $298 million of the rice from the U.S.

It’s possible that Trump could be referring to Japan’s future purchases of U.S. rice or a threat from Japan that it would reduce U.S. rice imports if it can’t reach a fair trade deal.

Check out TipRanks’ Stock Analysis and News feed for the latest trade developments.

Disclaimer & DisclosureReport an Issue

1