This week’s news roundup is dominated by Donald Trump’s tariff pause announcement. On Wednesday, the US president said he was authorizing a 90-day suspension on levies above 10%. The only exception being China. We report on Japan’s response to the news and what it plans to do next. We also report on the impact the announcement has had on Japanese markets.
In non-tariff-related news this week, popular actress Ryoko Hirosue is arrested after allegedly assaulting a nurse in Shizuoka. Content creators Mizkif and Kole apologize for doing pull-ups and gymnastic routines on a cherry blossom tree. And the Japanese government announces that it will be releasing stockpiled rice until around the end of July.
Japan Welcomes Trump’s Tariff Pause
In a stunning turn of events on Wednesday, Donald Trump announced that he was ordering a 90-day halt on most of the “reciprocal” tariffs that had gone into effect just 13 hours earlier. The one exception was China. Not long after Beijing raised the duty on American goods to 84%, the US president increased the tariff on Chinese imports to 125%. “Nothing’s over yet, but we have a tremendous amount of spirit from other countries, including China,” Trump told reporters. “China wants to make a deal, they just don’t know how to go about it.”
China aside, there’s now a 10% tariff for all nations for three months at least. Japan, which was initially hit with a 24% levy, has welcomed Trump’s tariff pause. “We have conveyed our concern and strongly asked (the United States) to review the tariff measures at various levels. We take the US announcement as a positive development. That said, we will continue to strongly urge the United States to review the remaining reciprocal tariff, as well as other tariffs on steel, aluminum, cars and car parts,” said Chief Cabinet Secretary Yoshimasa Hayashi at a press conference on Thursday.
Ishiba Urges Trump To Reconsider Tariffs
According to NHK, negotiations between Japan’s chief negotiator, Ryosei Akazawa, and US Treasury Secretary Scott Bessent could happen as early as next week. Japanese officials want to begin talks as soon as possible and the US seems to be on board with that. Speaking to Fox News on Monday, Bessent said that Japan was likely to “get priority” over other nations. There is some concern within the LDP, however, as to whether Akazawa is the right man to lead the negotiations. Some party members reportedly feel that he lacks diplomatic experience.
Shigeru Ishiba appointed Akazawa as chief negotiator on Tuesday following his phone call with the US president the night before. During their 25-minute conversation, the Japanese prime minister urged Trump to reconsider the levies imposed on his country. “I’ve told the president that Japan has been the biggest investor in the United States for five straight years and the tariff policies could hurt Japanese companies’ investment capabilities,” Ishiba said to reporters after the call. He added that he was “considering visiting the United States at the most appropriate time to meet with Donald Trump in person.”
A Volatile Week for Japanese Markets
Following Trump’s tariff pause announcement, Japan’s Nikkei share average rose 9.13% to 34,609 on Thursday. It was the stock index’s second-biggest single-day rise in history. The largest was recorded last August, after it increased by 3,217 points following the worst-ever single–day slump of 4,451 points. The broader Topix, meanwhile, rose 8.09% to 2,593.4. “Investors bought back stocks today, wishing that they had not dumped stocks in the previous session. But the rally also means that the market was too bearish about the impact of Trump’s tariffs,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
It’s been a volatile week for Japanese markets. On Monday morning, the Nikkei fell by as much as 8.8%, its third-largest intraday decline on record. It hit 30,792.74 for the first time in a year and a half, before closing 7.8% lower at 31,136.58. The Topix index, meanwhile, fell as much as 9.6%. It finished the day 7.8% lower. On Tuesday, the Nikkei index climbed 6.03% to 33,012.58. The Topix also gained more than 6%, closing at 2,432.02. Retreating from Tuesday’s sharp rebound, the Nikkei Stock Average dropped 3.93% on Wednesday, while the Topix index finished 3.40% lower.
Actress Ryoko Hirosue Arrested for Assaulting Nurse in Shizuoka
At around 12:20 a.m. on Tuesday, a 37-year-old nurse working at a hospital in Shimada, Shizuoka Prefecture, allegedly had her arm scratched and was kicked multiple times by a patient, causing minor injuries. The patient identified herself as Ryoko Hirosue, 44, a prominent Japanese actress and singer, who is best known for her roles in the Luc Besson-produced French action-comedy, Wasabi, and the Academy Award-winning Japanese film, Departures. She was arrested at the scene. On Tuesday morning, Hirosue’s agency confirmed that it was her involved in the incident after she went into a state of panic.
“We sincerely apologize to the victim and all those involved for the inconvenience and concern we have caused,” read the statement. “As the case is currently under investigation, we will refrain from releasing details. But, for the time being, Hirosue will refrain from all entertainment activities. We would like to apologize again to all those involved and to the fans who support us on a daily basis for the inconvenience and concern we have caused.” Hirosue was sent to hospital on Monday evening after crashing into a truck on the Shin-Tomei Expressway in Kakegawa city.
Content Creators Mizkif and Kole Apologize After Antics on Cherry Blossom Tree
Content creators apologized on Monday after being criticized for doing pull-ups and gymnastic routines on a cherry blossom tree in Japan. The video, which was uploaded on April 4, featured American Twitch streamer and YouTuber Matthew Rinaudo, better known as Mizkif, street interviewer Kole, who appears on the Tokyo Sims’ TikTok and YouTube sites, and musical artist Swhite. The footage was taken down, but not before many people saw it, including media personality and former porn actress Kaho Shibuya. She then decided to post about it on her X page.
“If you ever want to flex your muscles to show how much testosterone you’ve got… go touch your own wood. Leave ephemeral cherry blossoms with flowers living for only 2 weeks alone,” wrote Shibuya. She also claimed that one of the content creators sent her angry DMs. On Monday, Mizkif apologized for his actions via his X account, stating that cherry blossom trees are “sacred to the Japanese culture and are extremely delicate.” Kole from Tokyo Sims posted a similar message, saying that he and Swhite were disappointed with themselves “for not catching this act as being highly disrespectful.”
Rice Prices Continue To Soar in Japan
With prices continuing to soar, the Japanese government announced this week that it will be releasing stockpiled rice until around the end of July. So far, the releases have failed to stabilize prices. Two installments were released from stockpiles, weighing a total of 210,000 tons. Auctions took place in March, with sales beginning toward the end of that month. According to the Agricultural Ministry’s figures, between March 24 and 30, when the first wave of stockpiled rice hit shelves, the average price at around 1,000 supermarkets of 5 kilograms of rice was ¥4,206, including tax.
That represented an increase of around ¥10 from the previous week. It’s the 13th consecutive week the average price has risen, and more than double the cost of a year ago. Attempting to offset this trend, the government will continue with its plan of releasing stockpiled rice. A third auction offering 100,000 tons of rice will take place in the fourth week of April. “The goal of the measure is to stabilize rice prices by ensuring a steady supply,” said Agriculture Minister Taku Eto at a press conference on Wednesday. “We will take steps to ensure the rice reaches consumers as quickly as possible.”
