TOKYO: Japanese Prime Minister ISHIBA Shigeru said on Monday he told U.S. President Donald Trump in a telephone call that his tariff policies are extremely disappointing and urged him to rethink.

“I’ve told the President that Japan has been the biggest investor in the United States for five straight years and the tariff policies could hurt our Japanese companies’ investment capabilities,” Ishiba told reporters after the call with Trump.

Ishiba also said he agreed with Trump to continue constructive dialogue on the issue.

Trump’s decision to impose a 25% levy on auto imports, and a reciprocal 24% tariff on other Japanese goods, is expected to deal a huge blow to Japan’s export-heavy economy with analysts predicting the higher duties could knock up to 0.8% off economic growth.

Reuters