Trump says car trade with 'Mr Japan' is unfair as deadline looms
FILE PHOTO: A Toyota Tacoma is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. - Reuters
WASHINGTON DC: US President Donald Trump characterised trade in cars between the US and Japan as unfair on Sunday (June 29), little more than a week before higher tariffs are set to kick in if a deal isn't reached between the two nations.
"So we give Japan no cars. They won't take our cars, right? And yet we take millions and millions of their cars into the United States. It's not fair,' Trump said during a Fox News interview that aired Sunday.
"And I explained that to Japan. And they understand it. And we have a big deficit with Japan. And they understand that too,' he said in remarks. "Now, we have oil. They could take a lot of oil. They could take a lot of other things,' he added.
Japan's top negotiator Ryosei Akazawa visited Washington DC last week for the seventh round of trade negotiations that have been ongoing for months, even extending his stay in hopes of hashing out a deal as the July 9 deadline for higher so-called reciprocal tariffs looms.
In a statement released by the Japanese government Sunday, Akazawa and his counterpart, US Commerce Secretary Howard Lutnick had a "fruitful discussion' and agreed to continue seeking a deal that is beneficial for both the US and Japan.
It was unclear from Trump's statements in the interview whether Japan was close to reaching a deal or winning an extended reprieve from a jump in the across-the-board tariffs.
Trump said the US can set its trade terms with Japan unilaterally.
"I'm going to send letters,' Trump said on Sunday, referring to a plan to inform some trading partners that the US will unilaterally set tariffs. "I could send one to Japan. 'Dear Mr. Japan, here's the story. You're going to pay a 25 per cent tariff on your cars.'' - Bloomberg
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