Japan told Group of 20 countries that tariffs aren’t the right way to fix imbalances, and that countries facing such situations need to address them through domestic efforts, according to Finance Minister Katsunobu Kato.

Finance ministers and central-bank governors from the Group of 20 economies have ended their first day of talks in South Africa. US tariff policy was a major topic.

Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S., even if the U.S. does move forward with its planned 25% tariffs on all Japanese exports.

More than two-thirds of Japanese firms believe the government should compile an extra budget later this year to mitigate the impact of U.S. President Donald Trump's new tariffs and rising prices, a Reuters survey showed on Thursday.

U.S. Treasury Secretary Scott Bessent will meet Japanese Prime Minister Shigeru Ishiba on Friday but will not discuss tariffs, despite Japan’s efforts to restart stalled negotiations ahead of a looming Aug.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.

President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S., informing them of their new tariff rates.

Exports from Japan declined again in June, following a 1.7% drop in May, as U.S. tariffs continue to heighten the risk of a recession. According to a CNBC report, exports from the Asian powerhouse declined 0.

The cost of living, social insurance and demographic issues were far more important to them despite Japan being locked in a brutal trade war with the United States over high tariffs put into place and planned by U.S. President Donald Trump.