>> Japan might be thinking about hitting back at the US on trade. On Thursday, state media reported Tokyo is weighing tariffs on American exports, possibly worth more than $400 million. They say it's all been in the works for some time, and this week Japan is set to tell the World Trade Organization of their attack plan.
The move would be retaliation against American steel and aluminum tariffs, which were imposed by President Donald Trump earlier this year. Japan is the only major US ally that didn't receive exemptions. Until now the country had held back from issuing any reciprocal threats, a path taken by China and the EU.
But analysts say Japan's tired of begging for exemptions, and might be ready to take a more hardliner approach. In March, Trump imposed import duties of over 25% on steel, and 10% on aluminum. Drawing criticism from other countries for stirring a potential global trade war. The EU has since threatened to respond with it's own duties, and will also be notifying the WTO of it's potential plans this week.
Meanwhile, China has increased tariffs of up to 25% on over 100 US goods. On Thursday, Beijing's top trade official was in Washington, kicking off new negotiations in the trade dispute. A move from Japan would add to that growing rift created by Trump's, America First policy abroad.