09:55 GMT21 January 2021
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    MOSCOW (Sputnik) - Japan is taking final steps to inform the World Trade Organization later this week that it is ready to retaliate against US import tariffs, sources told a Japanese broadcaster.

    The NHK channel said the Japanese government considered $409 million in duties to offset tariffs imposed on it last March by the Trump administration. The list of goods was not publicized.

    US President Donald Trump has imposed a 25 percent tariff on imported steel and a 10 percent tariff on aluminium, citing national security concerns. Japan failed to secure a waiver from these duties, but NHK sources said it would continue talks.

    Earlier, Japan and China reached several milestone agreements in financial cooperation during a visit of the Japanese PM to China. The two countries have agreed to resume talks on implementing a foreign currency swap agreement and announced a set of measures ensuring the strengthening of mutual trade and financial ties.

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    import tariffs, trade war, Japan, US
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