Crunch Time for Japanese-U.S. Trade Relations at G7 Summit

In a pivotal encounter on the margins of the G7 summit in Canada, Japanese Prime Minister Shigeru Ishiba engaged in discussions with U.S. President Donald Trump. The primary focus was auto import tariffs that Japan fears could severely impact its economy.

The 30-minute meeting took place in the scenic venue of the Kananaskis Mountain resort, with global economic policies and geopolitics on the agenda. Notably, Japan's government withheld details on the actual dialogue between the two leaders.

The meeting follows a series of unsuccessful high-level trade talks. Economists caution that the tariffs could diminish Japan's GDP by nearly 1%. Ishiba is keen on averting the proposed 25% tariff on Japanese cars and the 24% reciprocal tariff impacting other imports.

(With inputs from agencies.)