Japan's trade negotiator to urge Trump to sign executive orders to cut tariffs
Economic Revitalization Minister Akazawa Ryosei made the remarks in an NHK news program on Saturday.
Akazawa referred to the latest meeting in which Japan and the US reached an agreement on trade and tariffs.
He said Trump is skilled at making deals with a style that presses for an answer. He said if Japan fell silent, that would be the end of it. So Akazawa raised his hand dozens of times, saying, "Mr. President, may I ask one more?"
Akazawa stressed the significance of the agreement, saying Japan successfully lowered tariffs by 10 percentage points from the rate that had been scheduled to kick in on August 1. He said about 10 trillion yen in losses have been avoided.
He also referred to a plan in which up to 550 billion dollars, or about 80 trillion yen, would be offered through government-affiliated financial institutions, including the Japan Bank for International Cooperation, for bilateral cooperation in economic security. The funds will be included in the category of investment, loans and loan guarantees.
He said investment is expected to account for 1 or 2 percent of the total and that the Japanese government plans to accumulate the funds during Trump's term of office.
Akazawa noted that what the government should do now is urge Trump to issue executive orders to lower the tariffs, not to draw up joint documents.
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