Japan, U.S. agree to continue tariff talks as July deadline looms
Japanese and U.S. negotiators agreed Friday to continue talks toward a tariff deal that will be beneficial to both countries.
Japan's government said its top tariff negotiator, Ryosei Akazawa, and U.S. Commerce Secretary Howard Lutnick held talks in Washington, with each side reaffirming its position during "fruitful" discussions on trade expansion, nontariff measures and economic security cooperation.
The meeting between Akazawa and Lutnick, which lasted about an hour, took place as U.S. President Donald Trump and his trade team increasingly suggest they could give trading partners now in talks with Washington more time to negotiate beyond early July, when his administration's 90-day pause on so-called reciprocal tariffs is set to expire.
U.S. Treasury Secretary Scott Bessent said Friday that the Trump administration could complete negotiations with key trading partners by Sept. 1.
In a Fox Business interview, Bessent said, "I think we could have trade wrapped up by Labor Day" if the United States can make "10 or 12" deals among its 18 highest-priority trading partners and seal "another important 20 relationships" with new agreements.
Japan is among the 18 trading partners, also including the European Union, India and South Korea, with which the Trump administration has prioritized making deals.
White House spokeswoman Karoline Leavitt also said at a press briefing on Thursday that the 90-day pause that Trump put in place to facilitate negotiations could be extended.
On Friday, when asked what he might do with the suspension, set to expire July 9, Trump said, "We can do whatever we want. We could extend it. We could make it shorter."
"I'd like to make it shorter. I'd like to just send letters out to everybody: 'Congratulations, you're paying 25 percent,'" he added during a press conference at the White House.
The Japanese negotiator arrived in Washington on Thursday for his seventh round of ministerial meetings on tariffs with the United States. He could also hold talks later Friday with Bessent.
Akazawa's visit through Saturday comes after Japanese Prime Minister Shigeru Ishiba and Trump failed to strike a deal on tariffs last week when they met bilaterally on the sidelines of a Group of Seven summit in Canada.
The 90-day pause applies only to country-specific tariffs under Trump's reciprocal scheme, covering about 60 trading partners that have notable trade surpluses with the United States. It does not affect his baseline duty of 10 percent, targeting imports from all parts of the world.
Japan is facing an additional country-specific tariff of 14 percent, for a total rate of 24 percent.
But the Trump administration's additional tariffs targeting the automotive industry, which are not subject to the pause, have been a particular concern for Japan.
The administration raised the tariff rate on imported passenger vehicles by 25 percentage points to 27.5 percent in early April, and the move is already hitting the industry hard.
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