Japanese exporters may get a break from American tariffs on steel and aluminum. Trade Minister Hiroshige Seko said Tuesday that there was a high possibility that Japan would be exempted from the tariffs on a per-item basis.

HIROSHIGE SEKO JAPANESE TRADE MINISTER "There is a high possibility Japan could be exempted from U.S. tariffs on steel and aluminium on per-item basis as Japanese steel and aluminium products contributed greatly to U.S. industry and were irreplaceable. I believe that Japanese companies will apply for exemptions if necessary."

Seko said that Japanese steel makers were encouraging their U.S. clients to apply for exemptions. The minister added that Japanese steel and aluminium products contributed greatly to U.S. industry. Seko said that the Japanese steel and aluminium sectors were irreplaceable for the U.S. Analysts say Japan's confidence may come from President Trump's exemption offers to such allies as Canada and Mexico.