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.

President Donald Trump on Monday informed Japan and South Korea that 25% tariffs will be imposed starting Aug. 1 on goods sent to the United States.

Small and medium-sized firms like Mitsuwa Electric that form the backbone of Japan's economy have weathered many storms over the decades, and company president Yuji Miyazaki is hopeful they will also withstand Donald Trump.

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.

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.

Japan has reported a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year as exports were hit by President Donald Trump's higher tariffs.

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.

Japanese Prime Minister Shigeru Ishiba’s political standing took a major hit on Sunday as his coalition lost its hold on the upper house of parliament, according to projections by Japanese media outlets Nippon TV and TBS.

President Donald Trump said on Wednesday the U.S. will probably "live by the letter" on tariffs with Japan and may have another trade deal coming up with India, following his announcement of an accord with Indonesia on Tuesday.

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

Japanese voters headed to the polls on Sunday in a tightly contested election amid public frustration over rising prices and the imminent threat of US tariffs. The ruling Liberal Democratic Party (LDP) and its junior coalition partner Komeito need to secure a combined 50 seats to retain an overall majority in the upper house but the latest polling shows they might fall short.

By Susan Heavey, Doina Chiacu and Bart H. Meijer WASHINGTON/BRUSSELS (Reuters) -President Donald Trump said on Monday the U.S. would impose a 25% tariff on imports from Japan and South Korea beginning August 1 as he unveiled the first two of what he has said will be a wave of letters to trading partners outlining the new levies they face.