Finance
Japan finance minister calls U.S. tariffs “regrettable” at G7 talks
Japanese Finance Minister Katsunobu Kato said he told his Group of Seven counterparts that the U.S. decision to impose tariffs on all steel and aluminum imports was “regrettable” during their online meeting on Monday, emphasizing the importance of global trade rules.
Japanese Finance Minister Katsunobu Kato attends online G7 talks at the Finance Ministry in Tokyo on March 17, 2025. (Photo courtesy of the Finance Ministry)(Kyodo)
Kato told reporters in Tokyo after the virtual gathering, chaired by Canada as this year’s G7 host, that industrial policies, including tariffs, “should ensure predictability” and that decisions must be “based on international rules.”
“Given the current global situation, the G7 will lead a free, open and rules-based international economic system,” Kato said, apparently referring to U.S. President Donald Trump, who has pursued his “America First” principle to bolster the world’s biggest economy.
Since his inauguration on Jan. 20, Trump’s administration has announced a series of tariffs, such as 25 percent duties on all steel and aluminum imports, which came into force on Wednesday, triggering retaliatory moves by some of its major trading partners.
Other measures include levies of around 25 percent on imported cars, up from 2.5 percent, with details likely to be announced next month, potentially impacting Japan’s auto sector. Kato said, “Japan will engage in serious talks with the United States.”
Related coverage:
Japan’s Iwaya calls U.S. tariffs “regrettable” in talks with Rubio
U.S. enforces 25% tariffs on all steel, aluminum imports
US-based bank holding company First Financial Bancorp has completed its previously announced acquisition of Westfield Bancorp and its subsidiary, Westfield Bank.
In June, First Financial agreed to acquire Westfield Bancorp from Ohio Farmers Insurance Company in a cash-and-stock deal valued at $325m.
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With the addition of Westfield Bank, First Financial’s total assets now stand at $20.6bn, strengthening its presence in the Midwest region of the US.
The acquisition is said to expand First Financial’s commercial banking and wealth management services in Northeast Ohio.
Westfield Bank’s retail locations and related services will now operate as part of First Financial’s network.
These branches will retain their current branding until the completion of conversion process, which is expected to occur in March 2026.
The conversion will merge the two banks’ products, processes and operating systems.
Westfield Bank clients will continue to receive services through existing channels, and will receive information about account conversions in the coming months.
First Financial president and CEO Archie Brown said: “This is an exciting step in the growth of First Financial, as the addition of Westfield Bank opens new possibilities for growth and profitability for us in an attractive market.
“We can now bring our wide range of solutions in consumer, commercial, specialty lending and wealth management to new clients, while expanding our geographic footprint for our current clients.
“The First Financial team is thrilled to welcome the Westfield Bank team members to the First Financial family.”
The transaction follows First Financial’s recent expansion activities in the Midwest.
In 2023, the company established a commercial lending presence in Northeast Ohio.
Earlier this year, First Financial announced BankFinancial, the parent company of BankFinancial, National Association, in Chicago, Illinois.
Furthermore, the company has also established a commercial banking presence in Grand Rapids, Michigan.
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