Japan-U.S. Trade Talks: Delayed Visit Amid Tensions Over $550 Billion Investment Deal

Japan's top trade negotiator, Ryosei Akazawa, has canceled a scheduled visit to the United States, as reported by Kyodo news agency on Thursday. The decision comes amid the necessity to address certain details at a working level ahead of crucial ministerial discussions.

Akazawa was initially expected to visit on Thursday to finalize a written agreement regarding the financial aspects of a significant $550 billion U.S.-bound investment package. The package involves a division of returns between the U.S. and Japan. U.S. Commerce Secretary Howard Lutnick also indicated that details on Japan's investment would be announced this week.

Despite agreements in July for a reduced 15% tariff on Japanese imports in exchange for the investment, specifics remain uncertain. Japanese officials are advocating for an amended presidential executive order to eliminate overlapping tariffs on goods such as beef, which could be affected by higher tariffs. The U.S. has agreed to modify the July 31 order to prevent the stacking of tariffs.

(With inputs from agencies.)