Japan Pushes Back on US Call for Tariff Hikes Over Russian Oil
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Bloomberg) -- Japan’s finance minister pushed back against a US call to ramp up pressure on President Vladimir Putin to end the war in Ukraine by imposing higher tariffs on China and India for importing Russian oil.
“Japan has made a commitment within the framework of the World Trade Organization not to apply tariffs beyond its stipulated limits and to treat all member countries fairly, as long as others uphold their obligations under WTO agreements,” Finance Minister Katsunobu Kato told reporters Tuesday.
“It would be difficult for us to raise tariffs to, say 50%, solely on the basis that a particular country is importing oil from Russia,” he added.
Kato’s comments came after the Group of Seven nations discussed sanctions on Russia in an online meeting Friday. During the session, the US urged its G-7 allies to consider tariffs as high as 100% on China and India due to their continued purchases of Russian oil."
https://finance.yahoo.com/news/japan-pushes-back-us-call-104513303.html