BREAKING NEWS: Akazawa mum on whether Japan, U.S. can strike tariff deal at G7
KYODO NEWS - 14 minutes ago - 06:43 | Others
BREAKING NEWS: Akazawa mum on whether Japan, U.S. can strike tariff deal at G7
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The Mainichi
24 minutes ago
- The Mainichi
Japan PM Ishiba to attend G7, eyes summit with Trump over tariffs
TOKYO (Kyodo) -- Japanese Prime Minister Shigeru Ishiba will embark on a four-day trip to Canada to attend the first in-person summit of leaders from the Group of Seven nations since Donald Trump's return to the U.S. presidency. The two-day gathering will be held in Canada's Kananaskis, as a slew of challenges, both bilateral and global, loom ranging from the repercussions of the U.S. tariff policy symbolic of Trump's "America First" agenda, and a flareup in tensions following Israel's attack on Iran just days before the summit. For Ishiba, who himself is participating in his first face-to-face G7 meeting, his envisioned meeting with Trump is one of the highlights of the visit as the longtime allies have been advancing ministerial tariff negotiations to reach a deal. In a reversal of his previous stance, Trump effectively approved the takeover of United States Steel Corp. by Nippon Steel Corp., though the U.S. government will hold a "golden share," which gives it veto power over important management decisions. As the only Asian member of the G7, which marks half a century since its inception, Ishiba seeks to share views on the situation in the Indo-Pacific region where China's presence is increasingly felt. The two days of summit talks will likely cover a range of topics, from uncertainty over global growth and trade disputes stemming from Trump's tariff policy to Russia's war on Ukraine, and most likely the situation in the Middle East. The leaders are also expected to discuss ways to make supply chains more resilient and better use new technologies such as artificial intelligence. In what would be a rare move by a group known for its unity, the group, under the rotating presidency of Canada, is unlikely to issue a joint declaration to wrap up their discussions but release documents on specific points, according to sources familiar with the planning. The Ishiba-Trump summit is expected to grab attention in Japan. Higher U.S. tariffs on cars, auto parts, steel and aluminum are threatening to hurt the export-driven economy, as a key nationwide election for the House of Councillors is set to be held on July 20, a crucial test for a prime minister facing a public hit by persisting inflation. Japan has been urging the United States to rethink its tariff measures through rounds of ministerial negotiations, though tangible results have yet to be seen. In the run-up to his meeting with Trump, Ishiba has indicated that Japan will not rush to make a deal at the expense of national interests. On the fringes of the G7 summit, Ishiba is expected to explore one-on-one talks with leaders such as South Korea's new President Lee Jae Myung and Ukrainian President Volodymyr Zelenskyy, who are also expected to attend part of the multilateral meeting as non-members of the G7. The G7 consists of Britain, Canada, France, Germany, Italy, Japan, and the United States plus the European Union.
Japan Today
an hour ago
- Japan Today
Ishiba heads to G7 to press Trump to drop auto tariffs
Japanese Prime Minister Shigeru Ishiba speaks at a joint press conference with U.S. President Donald Trump in the East Room at the White House in Washington on Feb 7. By Tim Kelly Japanese Prime Minister Shigeru Ishiba heads to Canada on Sunday for trade talks with U.S. President Donald Trump, hoping to persuade him to drop trade tariffs that have imperiled Japan's auto companies and threaten to undermine his fragile government. The two are expected to meet on the sidelines of a summit of the Group of Seven nations in Kananaskis, Alberta, for their second in-person encounter. It follows a sixth round of high-level trade talks in Washington on Friday. Japan's top tariff negotiator, Ryosei Akazawa, said he explored the possibility of an deal in detailed meetings with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The trick for Ishiba, who spoke with Trump by phone on Friday, will be to get the president to drop the 25% tariff he imposed on Japanese cars, as well as a paused 24% across-the-board levy that Trump calls a reciprocal tariff, without making concessions that could hurt the prime minister's public support at home. Returning to Tokyo with no deal would be better politically than conceding too much, analysts say. "If it goes badly, it could even be seen as a positive for Ishiba, standing up to Trump and standing up for his country when he's under assault," said Michael Cucek, a political science professor at Temple University in Tokyo. Ishiba and his ruling Liberal Democratic Party face an upper house election next month that comes after a lower house loss in November that left him reliant on the support of other parties to stay in power. Another poor electoral result could bring down his government and would force Trump to reset trade talks with a new Japanese administration. "The most important thing is that Ishiba does not cave in for a bad (auto) deal," said Joseph Kraft, a financial political analyst at Rorschach Advisory in Tokyo. "I expect there will be some kind of deal, although it could be haphazard. Trump needs some good news and I don't think he has much interest in G7 activities." Failing to reach an agreement in Canada might not have an immediate economic impact on Japan, but tariffs that stay in place will eventually drag down growth, said Asuka Tatebayashi, senior analyst at Mizuho Bank. "If you look at the data for car exports to the U.S. for April, it was quite striking. The volume in dollars was down by nearly 5%, but the number of cars has increased a lot," she said. "It means either they are only selling cheap cars or the manufacturers are absorbing the cost. I think the latter is the case and this is not very sustainable." Tariffs could shave 0.9% off Japan's gross domestic product, Mizuho Research & Technologies estimated in a report in April. © Thomson Reuters 2025.
Yomiuri Shimbun
an hour ago
- Yomiuri Shimbun
50 Years of Summits: Can G7 Countries Play Role in Ensuring Global Stability?
The Group of Seven advanced countries, which share values such as democracy and the rule of law, have taken the lead in shaping the international order. Disarray among the G7 countries could destabilize the world further. It is important to end the aggression and fighting that is spreading around the world. To that end, the G7 members must first unite. A G7 summit is scheduled to be held in Kananaskis, western Canada, from Sunday to Tuesday. This year, the group will mark 50 years since its first summit, at which the leaders of six countries — Japan, the United States and European nations — met in 1975. Canada was not included at that time. Initially, the agenda was how to deal with economic crises, such as the oil shock and currency issues. At Japan's suggestion, the G7 countries decided to hold a summit every year, and topics have widened from economic issues to also include politics and security. Fifty years ago, the member countries collectively accounted for 60% of the global gross domestic product, but with the rise of China and other countries, the figure currently stands at 40%. After the collapse of Lehman Brothers, the Group of 20 major economies began to play an active role. Many people have noted the decline in the G7's presence. However, the G20, which includes China, Russia and India as members, often faces conflicting national interests, so it is an insufficient framework for resolving issues. With the U.N. Security Council also falling into disarray, the G7 must play a role in restoring world peace and stability. A source of concern is the presence of U.S. President Donald Trump, who will be returning to the G7 summits. At one point, Trump leaned toward Russia, which has continued its aggression against Ukraine. He was involved in ceasefire talks, but his attempt did not go as intended. Recently, he has begun to distance the United States from Russia. European and other countries have condemned Israel's attacks that have caused many casualties in the Palestinian territory of the Gaza Strip, but the United States has continued to provide military support to Israel. In addition, Israel would not have been able to conduct airstrikes on Iran if the Trump administration had opposed them. Although a rift has widened between the United States and European and other countries, it is unlikely to be possible to resolve various conflicts without the involvement of the United States, which has overwhelming military power. Washington's high tariff policy is also causing discord within the G7. Canada, which currently holds the G7 presidency, reportedly intends to forgo issuing a leaders' joint statement, which typically summarizes the outcomes of the summit, and instead plans to compile separate documents of agreement on individual issues such as the economy and security. This approach appears to be aimed at allowing the G7 countries to reach agreements as much as possible by seeking common ground with the United States on individual issues. It is difficult to say that the administration of Prime Minister Shigeru Ishiba has been actively engaged with providing support to Ukraine and resolving conflicts in the Middle East. At the G7 summit, Ishiba should make clear Japan's stance to contribute to restoring peace. (From The Yomiuri Shimbun, June 15, 2025)
