Japan, America's largest foreign investor, maintains its commitment to continue US investments regardless of the US Supreme Court ruling. The stance reflects Tokyo's assessment that the Trump administration will persist with "weaponizing tariffs" even if International Emergency Economic Powers Act (IEEPA) tariffs are invalidated.
According to Nikkei on the 21st (local time), a senior Japanese official responded to the Supreme Court ruling that deemed Trump administration's reciprocal tariffs illegal by stating investments "will not be affected." The official added, "This is necessary for Japan's economic growth and economic security."
Analysts interpret Japan's response as choosing solidarity with the United States despite the ruling undermining the premise of US investments. Last July, Japan agreed to invest $550 billion in the US in exchange for reducing reciprocal tariffs from 25% to 15%. On the 18th, Tokyo confirmed construction of gas power plants, crude oil export facilities, and synthetic diamond manufacturing plants as part of the first phase.
Japan concluded the broader tariff framework would remain intact. Following the Supreme Court decision, President Trump imposed a blanket 10% "retaliatory tariff" worldwide, subsequently raising it to 15%. A Japanese official told Asahi Shimbun, "The Trump administration intends to eventually restore original rates. There are plenty of methods available as grounds for tariff measures." Concerns emerged that pursuing renegotiation of US investments could provoke presidential anger and disadvantage Japan.
However, some voices within the ruling Liberal Democratic Party publicly called for US "tariff refunds." LDP Tax Policy Research Commission Chairman Itsunori Onodera, a 10-term lower house member, criticized on Fuji TV: "It is only natural to return tariffs paid in an illegal manner."
Taiwan, which signed a memorandum of understanding for $500 billion in US investments in exchange for reducing reciprocal tariffs from 20% to 15%, also responded cautiously. Executive Yuan spokesperson Li Hui-zi stated regarding newly imposed tariffs: "Initial assessment indicates limited impact on Taiwan. Seventy-six percent of last year's US exports fall under Section 232 of the US Trade Expansion Act rather than IEEPA, which should reduce uncertainty."