Latest news with #JapanUSrelations
NHK
01-07-2025
- Business
- NHK
Japan's top trade negotiator vows not to sacrifice farming in Japan-US talks
Japan's top trade negotiator has reiterated his stance that the country will not seek a trade agreement with the United States in which Japan's farming industry is sacrificed. At a news conference on Tuesday, Economic Revitalization Minister Akazawa Ryosei was asked about a social media post by US President Donald Trump. The post in question read that Japan "won't take our RICE, and yet they have a massive rice shortage." Akazawa said agriculture forms the foundation of the nation. He said it is an extremely important task for the government and the ruling coalition to create an environment where farmers feel secure and can continue their work. He said both Japanese and US teams have continued sincere discussions toward a potential deal, but still remain at odds on some points and are yet to reach an agreement as a package. Akazawa said he hopes to work vigorously toward a deal that is beneficial to both sides, while protecting Japan's interests.
Japan Times
13-06-2025
- Automotive
- Japan Times
Akazawa sees a deal with U.S. sparing Japan from higher car levies
Japan's top trade negotiator expects a trade deal with the United States to spare Tokyo from higher auto tariffs, even if U.S. President Donald Trump decides to increase them against other nations. "We are in bilateral negotiations with the U.S.,' Ryosei Akazawa said Friday as he left for Washington for his sixth round of trade talks with U.S. counterparts. "Generally speaking, if we reach a deal it should secure special treatment for Japan, and exclude it from rules that apply to most countries.' Akazawa made the remarks after being asked about Trump's comments that indicated he's considering raising tariffs on imported cars further to boost production in the U.S. Akazawa also said he was aware that U.S. Treasury Secretary Scott Bessent has signaled a possible extension of the July 9 deadline to return across-the-board tariffs to original rates, which would mean a bump to 24% from 10% for Japan. Akazawa heads to the U.S. as the two nations eye a potential trade deal out of an expected summit in Canada between Trump and Prime Minister Shigeru Ishiba. The two are expected to meet on the sidelines of the Group of Seven leaders' gathering starting Sunday. A 25% tariff on cars and car parts threatens to push the Japanese economy into a technical recession with a hit to the nation's most important exports, just as Ishiba prepares for a national election in July. The U.S. has also recently doubled a levy on steel and aluminum to 50%. Akazawa said Japan will continue to seek a review of all U.S. tariffs and aim for a package of agreements.
NHK
01-06-2025
- Business
- NHK
Japan's tariff negotiation strategy likely to eye Ishiba-Trump deal on G7 fringe
Japan plans to create a strategy for its tariff negotiations with the United States with an eye toward allowing their leaders to strike a deal on the sidelines of the Group of Seven summit in Canada in mid-June. One floated idea is for the two leaders to meet in the US right before the G7 gathering. Japan has held a series of ministerial negotiations with the US on tariff measures by President Donald Trump's administration. Japan's chief negotiator in the talks is Economic Revitalization Minister Akazawa Ryosei. Akazawa met US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in the latest round of talks in Washington on Friday. Japanese Prime Minister Ishiba Shigeru received a briefing from Akazawa about the meeting on Sunday. Ishiba instructed him to place top priority on the negotiations and do everything possible so that the two nations can reach an agreement. Akazawa later said Japan's economy, chiefly the automobile industry, has already suffered significant damage. The minister pledged to make steady and quick efforts while taking the economic situation into account. He also expressed his resolve to realize a deal with the US at an early date without undermining national interests. Akazawa is considering returning to the US late this week to attend another round of negotiations. The governments of both countries are expected to make arrangements for that meeting. Japan has been asking the US to review the Trump administration's tariff measures. However, government sources say the US has not guaranteed such a review. Japan is expected to conduct a further analysis of the US stance and pursue common ground.
NHK
29-05-2025
- Business
- NHK
Japan's negotiator to head to US for another round of tariff talks
Japanese Economic Revitalization Minister Akazawa Ryosei is set to leave for Washington on Thursday for another round of tariff negotiations with the United States. Akazawa is scheduled to meet US Treasury Secretary Scott Bessent on Friday, local time. On Wednesday, Akazawa met with Japan's Chief Cabinet Secretary Hayashi Yoshimasa, who coheads the government's tariff task force with him, to confirm how to proceed with the negotiations. Akazawa told reporters that they discussed the final details and that he will negotiate firmly with the US side according to what was discussed. Japan views that in order to make progress in the tariff talks, it is essential to win over Bessent, as President Donald Trump is said to have great confidence in him. Bessent did not attend the previous negotiations last week. The Japanese government is making final arrangements for a new proposal. Based on Trump's previous remarks, it reportedly includes plans for expanding investment in the US and cooperation in shipbuilding. Japan is also expected to propose measures to make it easier to import US vehicles as Trump has been calling for a reduction of the trade deficit between the countries.
Japan Times
26-05-2025
- Business
- Japan Times
Japan touts ships expertise and LNG investment, with tariff talks key
Japan may offer financial and technical contributions ranging from investment in an Alaskan liquefied natural gas pipeline project to shipbuilding expertise as it seeks to smooth the path toward a tariff deal with the U.S. by mid-June. Japan will tout its prowess in building ice-breakers, a growing area of need as security concerns in the Arctic region mount, while also offering to help repair U.S. battleships that patrol the Asia-Pacific, Prime Minister Shigeru Ishiba said Sunday, as his hand-picked trade negotiator Ryosei Akazawa returned to Tokyo following a third round of discussions with U.S. counterparts in Washington. Akazawa said he hopes to reach an agreement in time for a planned bilateral meeting between Ishiba and U.S. President Donald Trump on the sidelines of the Group of Seven summit in Canada next month. "There were concrete discussions on trade expansion, nontariff measures, and economic security cooperation,' Ishiba said Sunday regarding the latest meeting between Akazawa and his counterparts. "Progress was made in those areas. We plan to press ahead with discussions with the G7 summit in mind.' Ishiba's comments reflect rising momentum in the negotiations as the U.S. tariffs threaten to drag Japan's economy into a technical recession ahead of a July Upper House election. Prior to Akazawa's latest visit to Washington, Trump initiated a phone call with Ishiba pledging to meet in Canada. Akazawa is expected to visit Washington again later this week to meet Treasury Secretary Scott Bessent, who was absent from meetings last week. Ishiba continues to emphasize Japan's investment contributions to the U.S. economy as he seeks a reprieve from additional U.S. tariffs. Local media reported that Japan may offer cooperation on an Alaska natural gas project as part of the trade talks, although the Yomiuri Shimbun reported that some doubts remain about the estimated $44 billion costs of the project. SoftBank founder Masayoshi Son has separately proposed a U.S.-Japan sovereign wealth fund for investments in technology and infrastructure, the Financial Times reported. Trump stunned the financial market by endorsing a partnership between United States Steel and Japan's Nippon Steel, with details remaining sketchy as to whether this would result in the takeover long sought by Nippon Steel or merely a minority share investment. Akazawa declined to comment on how a major corporate deal might affect the tariff talks, but analysts said it might help. "This is very, very positive news for the atmosphere of the negotiations, for the level of trust between the two sides. But it still comes down to a game of chicken over the automobiles tariffs,' Kurt Tong, a former senior U.S. diplomat in Asia who's now a managing partner at the Asia Group, said on Bloomberg TV on Monday. The proposal for setting a timeline by the G7 could work to Japan's advantage in the negotiations as long as Tokyo wins some manner of reprieve on auto tariffs, among its top priorities. "There is an election coming up later in July, and the Japanese government really needs to have a positive outcome in this negotiation,' said Tong. As with other nations, Trump has slapped Japan with a 25% levy on autos, steel and aluminum and a 10% across-the-board tariff. What are known as a reciprocal tariff is set to be raised to 24% in early July, barring a deal. Cars and auto parts comprise around a third of all exports to the U.S. from Japan. The auto industry is a key driver of growth for Japan's economy and employs around 8% of the work force. April trade data saw a drop in auto exports to the U.S., raising the risk of a technical recession for an economy that contracted in the first quarter.
