Japan Pushes U.S. for Swift Auto Tariff Cuts

Japan's top tariff negotiator, Ryosei Akazawa, departed for Washington to advocate for the signing of an executive order by President Donald Trump. This order aims to implement a recently agreed tariff reduction on Japanese automobile imports, decreasing from 27.5% to 15%. While the agreement was made, the timeline for enactment was not disclosed.

Additional tariff cuts on various Japanese goods are scheduled to take effect, reducing from 25% to 15% by Thursday. Akazawa emphasized the urgency for the U.S. to expediently issue the executive order concerning automotive tariffs, a critical component of the trade deal.

Addressing concerns on 'stacking', where multiple tariffs compound on imported goods, Akazawa noted Japan's push for clarity akin to the European Union's 'no stacking' condition. Reassurances were received that Japanese products would be equally considered, parallel to the $550 billion investment package discussed in the tariff negotiations.

(With inputs from agencies.)