Photo/Illutration Chief Cabinet Secretary Yoshimasa Hayashi holds a news conference on April 3. (Takeshi Iwashita)

Chief Cabinet Secretary Yoshimasa Hayashi criticized U.S. President Trump's announcement of a 24 percent reciprocal tariff on Japan but didn't reveal any plans for retaliatory measures.

“I conveyed my extreme regret and strongly requested that the U.S. review its measures," Hayashi said at a news conference on the morning of April 3.

Hayashi explained that “we have serious concerns about the consistency with the WTO (World Trade Organization) Agreement and the Japan-U.S. Trade Agreement."

He noted that “this could have a major impact on the economic relationship between the U.S. and Japan, the global economy and the multilateral trade regime as a whole."

As to whether Japan would impose retaliatory tariffs on the United States, he said, “I will refrain from revealing the specifics of the response under consideration."

For domestic companies and other entities affected by the U.S. tariffs, Hayashi indicated that Japan would set up a consultation service and provide financial support.

On the early morning of April 3 (Japan time), Trump announced the imposition of a uniform 10 percent tariff on all countries starting on April 5, with higher tariffs to be applied to nations with high trade barriers starting on April 9. The rate of the reciprocal tariff on Japan will be set at 24 percent.

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