Japan will slap 15 percent levies on U.S. steel imports starting Sept. 1 in retaliation for American steel industry protection measures, the trade ministry said Monday, turning up the heat on a long-festering dispute between the world's two largest economies.
The tariffs, which could rise as high as 5.7 billion yen, will target ball bearings, airplane parts and other steel products, the Ministry of Economy, Trade and Industry said.
The decision came after the Finance Ministry's Council on Customs, Tariff, Foreign Exchange and Other Transactions approved the step Monday morning.