The economics ministry has been trying to persuade importers of Japanese products to lower their prices following the depreciation of the Japanese yen.
On Monday, the economics ministry invited importers as well as wholesalers and manufacturers to discuss the possibility of price reductions. The ministry said although the cost structure of each industry varies, it is advisable to lower the price to “reflect the difference in exchange rates.”
If rejected, the economics ministry said it will conduct a cost analysis if necessary.
Meanwhile, Economics Minister Woody Duh said the government will ask the fair trade commission to intervene if the private sector does not respond positively to the call and engages in unfair competition.