Trade Talks Heat Up: Japan's Move to Negotiate Tariffs
Japanese Prime Minister Shigeru Ishiba is planning a visit to Washington to discuss trade deals with President Trump ahead of the G7 summit. Japan aims to negotiate tariff reductions and exemptions, particularly in the auto sector, amid progress in talks led by Economy Minister Ryosei Akazawa.
- Country:
- Japan
In a bid to negotiate a favorable trade deal ahead of the Group of Seven summit, Japanese Prime Minister Shigeru Ishiba is contemplating a trip to Washington to meet with President Donald Trump, reports the Yomiuri newspaper. This follows positive developments in discussions on tariff reduction strategies.
With Japan facing a substantial 24% tariff beginning next month, Economy Minister Ryosei Akazawa has been at the forefront, returning to Washington to pursue further dialogue. A decision regarding Ishiba's potential visit will be made based on these negotiations.
Japanese officials are keen to reach an agreement that includes exemptions for their automobile sector, a critical industry, and are striving to secure this by President Trump's mid-June birthday. Bilateral discussions have addressed trade expansion and economic security, with a focus on military equipment purchases and shipbuilding cooperation.
(With inputs from agencies.)
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