Icebreakers are key to shipbuilding cooperation with US, Ishiba says
TOKYO -- Japanese Prime Minister Shigeru Ishiba said Sunday that "icebreakers, including those for the Northern Sea Route, will be key" to advancing tariff negotiations with the U.S. as the two countries seek cooperation in shipbuilding.
Ishiba spoke to reporters after visiting a Maritime Self-Defense Force base and a facility of major shipbuilder Japan Marine United, both in the Kyoto prefecture city of Maizuru.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kyodo News
19 minutes ago
- Kyodo News
Japan, U.S. agree tariff talks making progress toward deal
By Takuya Karube, KYODO NEWS - 3 hours ago - 12:33 | All, World Japan's chief tariff negotiator said Friday that he and U.S. Cabinet members agreed in their talks that they are making progress toward a potential tariff deal as early as June. After a meeting in Washington with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, Ryosei Akazawa, Japan's minister in charge of economic revitalization, told reporters that they plan to hold another round of negotiations before a Group of Seven summit in mid-June. Akazawa noted, however, that Tokyo's stance to demand the United States remove all its additional tariffs on Japanese imports has not changed, and that he urged them to do so in his fourth round of talks with the United States, which lasted more than two hours. "If that can be met, we may be able to agree, but if not, it will be difficult to reach an agreement and that is our current position," Akazawa said. He refused to give details of the progress, including in which areas it has been made. According to the Treasury Department, Bessent highlighted to Akazawa the importance of boosting investment and working together to deal with economic security issues. Bessent also reaffirmed the "strong bilateral relationship" between the two countries, the department said. On the eve of the talks, Japanese Prime Minister Shigeru Ishiba spoke to U.S. President Donald Trump by phone, telling reporters afterward that each side was able to gain a better understanding of the views held by the other. Ishiba, however, said Japan's position on building a win-win relationship has not changed and that it is necessary to achieve the goal by increasing his country's investment in the United States, rather than using tariffs. Akazawa was previously in Washington just a week ago, when he met separately with U.S. Trade Representative Jamieson Greer and Lutnick, but not with Bessent. The Japanese and U.S. leaders are expected to hold talks on the sidelines of the G7 summit in Canada. Akazawa's team has presented a set of proposals to the Trump administration since the first round of the bilateral ministerial talks kicked off in mid-April. The package includes more purchases of U.S. corn and soybeans to help counteract the decline of its exports of the two crops to China amid trade tensions between Washington and Beijing, officials familiar with the negotiations said. It also contains Japan's readiness to cooperate in resurrecting the shipbuilding capacity of the United States, a goal Trump has vowed to attain amid China's increasing dominance of the industry, according to the officials. In return, Akazawa has persistently asked the Trump administration to eliminate the new tariffs it imposed on Japanese imports. On Friday, Akazawa said boosting Japan-U.S. cooperation on strategic sectors such as semiconductors and rare earths is crucial, in addition to narrowing differences over trade and nontariff barriers. He said the two countries, for example, will be able to build a robust supply chain of chips together as each has its own strengths. While the steel industry is also seen as a strategic sector, Trump said Nippon Steel Corp.'s planned huge investment in United States Steel Corp. has not much to do with the ongoing bilateral tariff talks. "But certainly, it certainly won't hurt, because we have a very good relationship with Japan," Trump told reporters after delivering a speech on Friday evening at a U.S. Steel plant to hail the investment, adding that Japan wants to "very much make a deal." In early May, Akazawa and the U.S. Cabinet members agreed to accelerate their tariff talks from the latter half of the month with the aim of striking an agreement beneficial for both Japan and the United States. Under Trump's so-called reciprocal tariff regime, announced April 2, Japan faces a country-specific tariff of 14 percent for a total rate of 24 percent. Along with other countries, Japan has been hit by the Trump administration's additional 25 percent tariff on automobiles and other sector-based levies implemented on national security grounds, on top of the baseline duty of 10 percent that is part of its reciprocal scheme. Related coverage: Japan rules out defense deal in return for U.S. tariff easing Japan PM says mutual understanding "deepened" with Trump over tariffs Japan defense equipment outlays may ease U.S. trade gap: tariff chief
The Mainichi
33 minutes ago
- The Mainichi
Trump lauds Nippon Steel as 'great partner' for US Steel
WEST MIFFLIN, Pennsylvania (Kyodo) -- President Donald Trump on Friday heaped praise on Nippon Steel Corp. over what he views as a partnership deal with United States Steel Corp., offering backing to the Japanese company's $14 billion investment into the iconic but struggling American producer. During a speech at a U.S. Steel plant in Pennsylvania, Trump called Nippon Steel a "great partner" and said the two steelmakers will form a "tremendous relationship" without offering many details about the deal, which he has never described as being the buyout the Japanese company has desired. "Most importantly, U.S. Steel will continue to be controlled by the USA," said Trump, who was against Nippon Steel's $14.1 billion takeover bid of U.S. Steel during the 2024 election campaign. "Otherwise, I wouldn't have done the deal." After returning from Pennsylvania, Trump told reporters at Joint Base Andrews near Washington that he still has to approve "the final deal" between the two steelmakers. His remarks during a visit to the plant in West Mifflin for a rally with steelworkers came after he unexpectedly struck a positive note a week earlier on "a planned partnership" between U.S. Steel and Nippon Steel, welcoming the prospect of the at least 70,000 jobs it will create and $14 billion it will add to the U.S. economy. Trump also said he will raise tariffs on steel imports to 50 percent from the 25 percent that took effect in March along with the same rate charged on aluminum from most countries, citing national security. Trump later said on social media that the new tariff rate will go into effect on Wednesday. "Our steel and aluminum industries are coming back like never before," he said. Nippon Steel, the world's fourth-largest producer, has sought to make U.S. Steel a wholly owned subsidiary. The Tokyo-headquartered company has yet to provide details of the latest status of the deal. "A strong steel industry is not just a matter of dignity or prosperity and pride," Trump said. "It's above all, a matter of national security." Trump said Nippon Steel's investment is the largest of any kind in the history of Pennsylvania and that the $14 billion is unprecedented in the history of the steel industry in the United States. He said it is "an incredible deal" that will ensure all U.S. Steel workers keep their jobs and all the company's facilities in the country remain open and thriving. The attendees of the rally included U.S. Steel CEO David Burritt and Takahiro Mori, Nippon Steel's vice chairman, who played a central role in negotiating the takeover bid. In addition to praising Burritt, Trump extolled Mori's contribution to making the landmark investment happen, saying, "He's highly respected all over the world for what he's done with steel." Trump said U.S. Steel will maintain all its existing operating blast furnaces "at full capacity for a minimum of the next 10 years, and we have that as a commitment." Nippon Steel and U.S. Steel announced their merger plan in December 2023. However, then President Joe Biden in early January this year issued an order blocking the sale of U.S. Steel to the Japanese firm, citing national security grounds, following a recommendation by a panel of federal agencies. Trump, who took office for a second term in January, ordered the Committee on Foreign Investment in the United States to conduct another review of Nippon Steel's proposed acquisition. With the review now complete, although its outcome remains unknown, Trump has until Thursday to determine whether to approve Nippon Steel's set of proposals. During the 2024 presidential election cycle, Biden and Trump stated that U.S. Steel should remain in domestic hands, a view shared by the leadership of the powerful United Steelworkers union. Both U.S. Steel and the powerful union are based in Pennsylvania, which was a key battleground state in the Nov. 5 presidential election, and the planned acquisition became highly political, although the proposed buyout came from a leading company from Japan, a close U.S. ally. Founded in 1901, U.S. Steel was once a symbol of American economic prowess, but it has struggled to keep up with competition from Chinese and other foreign rivals. U.S. Steel and its shareholders were supportive of the takeover, which would make it more competitive globally and create the world's third-largest steelmaker by volume.
Yomiuri Shimbun
an hour ago
- Yomiuri Shimbun
U.S. Tariffs, Rice Prices Discussed in Basic Economic Policy Draft; Disaster Prevention Agency Also Discussed
Yomiuri Shimbun file photo Prime Minister's Office The government will aim to maintain the free trade system by taking the lead in expanding the Trans-Pacific Partnership agreement, as part of its efforts to respond to U.S. tariff measures, according to the draft of its basic economy policy for the next fiscal year. The draft of the 'Basic Policy on Economic and Fiscal Management and Reform' also states that the government will 'review rice farming policies to address soaring rice prices.' U.S. tariff measures 'could shake the free trade system built by the post-war international community,' the draft says. It goes on to state that the government will 'grapple with maintaining and strengthening international economic order based on free and fair rules' through international cooperation, such as expanding the TPP and building a more resilient supply chain. Regarding the domestic economy, the draft states it is necessary to take caution against possible impacts of the tariff measures and the economic risks of surging prices.' It stresses the need to mobilize all possible policy measures, including passing costs onto prices as appropriate, to increase people's income and the country's productivity. Touching on the soaring rice prices, the draft states the government will ensure the stable supply of rice through the smooth distribution of its stockpiled rice. It also states that the government will take concrete steps to review its rice farming policies. Prime Minister Shigeru Ishiba has expressed his willingness to review the policy of adjusting rice production, which is effectively a policy of reducing rice acreage, and instead expand sales channels by increasing rice exportation. These stances are reflected in the draft. The draft makes reference to a disaster prevention agency, which the government aims to establish in fiscal 2026. The envisaged organization will be positioned as the central command for the entire government on the coordination of policy measures for disaster prevention. The draft states that the agency will have the authority to issue recommendations to other government bodies, and that the government will secure sufficient funding and personnel for the agency as well as appoint a dedicated cabinet member to head it. According to the draft, the government will also consider setting up regional bases for disaster prevention, an idea which Ishiba has touted. Following adjustments by the ruling parties, the basic policy is expected to be approved by the Cabinet as early as on June 13.
