Japan, U.S. Share Understanding That Tariff Discussions Progressing Toward Agreement; Sides Will Coordinate for Leaders to Meet During G7 Summit
Pool photo
From the right, Ryosei Akazawa, Japan's economic revitalization minister, U.S. Secretary of the Treasury Scott Bessent and U.S. Secretary of Commerce Howard Lutnick are seen in Washington on Friday.
WASHINGTON — Japan and the United States shared a common understanding that their discussions are progressing toward an agreement during the fourth round of Japan-U.S. ministerial tariff negotiations in Washington on Friday. The two countries will accelerate the discussions, aiming for the two leaders to reach an agreement at the Group of Seven summit in Canada in mid-June.
Ryosei Akazawa, Japan's economic revitalization minister and chief tariff negotiator, talked with U.S. Secretary of the Treasury Scott Bessent and U.S. Secretary of Commerce Howard Lutnick for about two hours and ten minutes.
In the negotiations, the Japanese side demanded that the United States abolish the series of tariff measures it has put on goods, including additional tariffs on automobiles, steel and aluminum products. Meanwhile, the U.S. side asked for Japan to take measures such as expanding investment in the United States and cooperating on economic security.
'Mutual understanding is deepening,' Akazawa told reporters after the discussion. 'Japan and the United States were able to fully recognize each other's positions and confirm that the discussion is progressing toward an agreement. We will accelerate our coordination.'
Japan and the United States are coordinating to hold talks between Japanese Prime Minister Shigeru Ishiba and U.S President Donald Trump to coincide with the G7 summit.
Aiming for the two leaders to reach an agreement, the two governments also agreed to hold a ministerial-level meeting ahead of the G7 summit.
Akazawa said the abolition of these tariffs is a precondition for an agreement. 'The Japanese automobile industry has been placed in position where it is losing ¥1 billion or ¥2 billion per day,' he said. 'I don't think it will work to leave any part of them in place.'
During the most recent negotiations, participants are thought to have discussed cooperation to strengthen supply chains for rare earths and semiconductors, as well as expanding Japanese imports of American agricultural products and reviewing non-tariff barriers on importing automobiles.
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