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Japan tariff negotiator Akazawa to hold more trade talks in U.S. this week

Japan tariff negotiator Akazawa to hold more trade talks in U.S. this week

Japan Today5 days ago
Japan's Economic Revitalization Minister Ryosei Akazawa speaks as he attends the USA national day celebration at Expo 2025 in Osaka on Saturday.
Japan's top tariff negotiator, Ryosei Akazawa, said on Saturday he planned to visit Washington next week to hold further ministerial-level talks with the United States.
Tokyo hopes to clinch a deal by an August 1 deadline that will avert President Donald Trump's tariff of 25% on imports from Japan.
"I intend to keep on seeking actively an agreement that is beneficial to both Japan and the United States, while safeguarding our national interest," Akazawa told reporters in the western region of Osaka.
Akazawa was visiting Osaka to host a U.S. delegation, led by Treasury Secretary Scott Bessent, that participated in the U.S. National Day event at World Expo 2025.
Akazawa said he did not discuss tariffs with Bessent.
© Thomson Reuters 2025.
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Japan and the United States reached a surprise trade deal on Tuesday in Washington after months of fruitless negotiations and some tense moments, with both sides taking victory laps and Japanese markets cheering the news. The United States is promoting it as the deal of the century. For Japan, it was a mission-accomplished moment. The agreement, the details of which are still being ironed out, includes a 15% "reciprocal" tariff on most Japanese goods and 12.5% on cars, with 50% tariffs on steel and aluminum remaining unchanged. Japan has agreed to buy more rice, improve market access and invest in a $550 billion fund that will support strategic industries and technologies in the United States. 'There has never been anything like it,' U.S. President Donald Trump wrote on Truth Social. The reciprocal tariff is 10 percentage points lower than the rate that had been scheduled to kick in on Aug. 1, while the auto tariff has been cut by half from 25%. 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'Since I proposed this idea to President Trump during the summit at the White House in February, I have consistently advocated for it and strongly pushed the U.S. side, and this agreement is the result of those efforts. 'I believe this will contribute to Japan and the United States working together to create jobs and promote high-quality manufacturing, thereby fulfilling various roles on the global stage moving forward,' he told reporters. News reports on Wednesday in Tokyo indicated Ishiba might resign by the end of August, though the prime minister denied this later in the day. 'Ironically, the Ishiba administration appears destined to be driven from office, with this tariff negotiation success potentially becoming its greatest — and final — achievement,' said Sahashi. But even if the leadership changes, Japan is likely to stick to the deal as part of Ishiba's legacy, said Hudson Institute's Chou. 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