U.S. President Donald Trump over the weekend said he would slap a 30% tariff on goods imported from the European Union from Aug. 1. EU leaders have said they are still aiming to come to an agreement with the U.S. before the tariffs kick in. Economists said they still expect that a framework agreement can be reached in time.

Unlike the European Union, the Japanese government has made no indication it plans to impose any kind of reciprocal tariff on the U.S.