Japan urges the US to honor the current tariff agreement, following a Supreme Court ruling that invalidated President Donald Trump's previous reciprocal levies, Nikkei Asia reported Tuesday, citing the country's economy minister, Ryosei Akazawa.

Akazawa communicated this request during a telephone conversation with U.S. Commerce Secretary Howard Lutnick, emphasizing the need for fair treatment under the new levy system, the publication said.

In public remarks following the discussions, Akazawa said there are potential consequences for Japanese exporters if the new framework does not incorporate existing safeguards, the news daily said.

The minister pointed specifically to the "non-stacking" clause in the 2025 accord, which prevents the compounding of various duty rates, warning that its absence could lead to a heavier financial burden on shipments to the U.S. market, the report added.

This development followed the U.S. Supreme Court's striking down earlier reciprocal duties, prompting the current administration to impose a 10% duty on imports from all nations.

This temporary measure, authorized under Section 122 of the Trade Act of 1974, will remain in place for 150 days, and there is a possibility of an increase to 15%, as revealed by Trump, according to various reports.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)