Daily SumUp

Japan said on Wednesday it was "regrettable" that the country had not been granted an exemption from US President Donald Trump's steel and aluminium tariffs of 25 percent.

Asked if Japan was considering retaliatory measures, top government spokesman Yoshimasa Hayashi said the two nations would continue to discuss details of the duties, which came into force at midnight US time (0400 GMT Wednesday).

"Widespread measures to limit trade risk having a significant impact on the Japan-US economic relationship as well as the world economy and multilateral trade system," Hayashi told reporters.

"That Japan was not excluded from the imposition of additional tariffs is regrettable," he said.

Japan exported 31.4 million tons of steel in 2024, of which 1.1 million went to the United States -- around four percent of the country's steel imports, according to Washington.