U.S. Treasury Secretary Bessent to visit Japan next week for Expo
The Expo is taking place in Osaka until mid-October, with the U.S. celebrating its National Day at the Expo on July 19.
The visit comes after U.S. President Donald Trump sent a letter on Monday stating his intention to raise tariffs on all Japanese imports to 25%, effective Aug. 1 — slightly higher than the 24% rate initially announced in April.
The trip would also mark Bessent's first visit to Japan since the trade negotiations started in April. Tokyo's point man on trade talks, Ryosei Akazawa, has traveled to Washington seven times during that time.
Bessent and Akazawa spoke on the phone for 30 minutes Tuesday following the issuing of Trump's letter, according to a statement by Japan's Ministry of Foreign Affairs. The statement said the two officials had a frank, in-depth discussion and agreed to continue vigorous consultations. The statement didn't mention any upcoming visit to Japan.
A senior U.S. official said the purpose of the trip to Japan is in Bessent's capacity as head of the American delegation to the Expo. There will be no formal bilateral meetings or discussions of trade, the official said.
Treasury did not immediately respond to a request for comment. Officials from Japan's Ministry of Foreign Affairs were not immediately available for comment.
Japan was initially seen as a promising partner for a quick deal, but the negotiations hit a roadblock over car tariffs. The sector accounts for more than 80% of the U.S. trade deficit with Japan, while it's a key employer and growth engine for the Japanese economy.
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