U S President Donald Trump has threatened to impose a "30% or 35%" tariff on Japan if a deal between the two countries is not reached before a deadline next week. That would be well above the 24% tariff Japan was hit with as part of Trump's so-called "Liberation Day" on 2 April, when he announced steep import duties on countries around the world.

President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume and renewed his threat to cut off talks and impose duty rates on several nations, including Japan.

U.S. President Donald Trump on Tuesday said he is not thinking about extending a current pause on reciprocal tariffs that is set to expire on July 9. He also berated Japan for being "unfair" on trade and appeared hopeful of a deal with India.