Ishiba and Trump to meet on G7 sidelines, Japan PM says
TOKYO (Kyodo) -- Japanese Prime Minister Shigeru Ishiba said Friday that he agreed with U.S. President Donald Trump to meet in Canada on the sidelines of the Group of Seven summit next week.
Ahead of another round of ministerial-level tariff talks in Washington, Ishiba told reporters after a 20-minute phone call that Tokyo's stance of urging the United States to eliminate higher tariffs on Japanese products remains unchanged.
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Yomiuri Shimbun
30 minutes ago
- Yomiuri Shimbun
Akazawa Calls Latest U.S. Trade Talks ‘Deep,' Offers No Prediction on Any Imminent Outcome
The Yomiuri Shimbun Economic revitalization minister Ryosei Akazawa speaks to reporters after his sixth talks with U.S officials over tariffs in Washington on Friday. Economic revitalization minister Ryosei Akazawa and U.S. government officials held their sixth ministerial negotiation talks on Friday in Washington over the tariff measures of the administration of U.S. President Donald Trump. After the meeting, Akazawa told reporters, 'We held very deep discussions to search for a possibility of reaching an agreement.' The Japan-U.S. ministerial talks have been held for four consecutive weeks. Akazawa held talks with U.S. Commerce Secretary Howard Lutnick for about 70 minutes and with U.S. Treasury Secretary Scott Bessent for about 45 minutes, one after another. After the talks, Akazawa did not clearly mention a possibility of reaching an agreement during Group of Seven summit to be held from Sunday to Tuesday in Canada. A Japan-U.S. summit is scheduled to be held on the sidelines of the G7 summit. He briefly said, 'I want to refrain from making any predictions. So far, the Japanese government has repeatedly demanded that all U.S. 'reciprocal tariffs' on automobiles, steel and aluminum exports from Japan be abolished. Akazawa avoided clearly answering a question over whether he reiterated the demand in the latest talks. In the preceding talks, the Japanese side proposed to increase imports of U.S. agricultural products and reexamine 'non-tariff trade barriers' against U.S. cars in line with requests from the Trump administration. The Japanese government is also considering collaborations on strengthening supply chains for rare earths and semiconductors. In the evening on Friday, Prime Minister Shigeru Ishiba held telephone talks with Trump for about 20 minutes and agreed to hold an in-person meeting separately from the G7 summit. Attention will focus on whether the leaders will be able to reach an agreement based on discussions in the ministerial talks. Rare earth magnets The government has begun internal discussions on proposing cooperation with the United States to strengthen supply chains for powerful magnets made with rare earths in the ongoing Japan-U.S. trade negotiations over the Trump administration's tariff policy, according to Japanese government sources. China holds a major share of the market for high-performance magnets. The government expects that Japan and the United States will promote the building of supply chains which will not rely on China and aim to make progress in the tariff talks, which are entering a decisive phase. Magnets made with rare earths are essential for manufacturing motors of electric vehicles and devices used in missiles. In the case of neodymium magnets, a typical product of the kind, China holds more than an 80% share of *global production. Japan, which has high-level manufacturing technologies, holds a 15% share. The United States is struggling to find ways to deal with China's restrictions on exports of rare earths. The Japanese government aims to show a stance of contributing to U.S. manufacturing industries in fields in which Japanese manufacturers have high competitiveness. In doing so, the government wants to draw concessions from the United States on tariff issues, such as the 25% additional tariff on Japanese-made cars, as automobile manufacturing is Japan's core industry.
Kyodo News
an hour ago
- Kyodo News
Tokyo police wary of lone-wolf attacks as election campaigning begins
KYODO NEWS - 4 hours ago - 12:38 | All, Japan Campaigning began Friday for the Tokyo metropolitan assembly election, with the capital's police stepping up measures to thwart possible lone-wolf attacks after incidents involving notable politicians in recent years. Top politicians are set to converge on Tokyo for a close contest seen as a bellwether for the national House of Councillors election this summer, in which the ruling Liberal Democratic Party is expected to struggle. "We are mobilizing the organization's full strength. We cannot create conditions that allow for the 'unexpected,'" a senior official of the Metropolitan Police Department said. Stump speeches are a mainstay of Japanese elections, offering candidates a chance to get their message across and granting voters opportunities to meet their potential representatives. Politicians have been targeted while campaigning in recent years, with former Prime Minister Shinzo Abe fatally shot during a stump speech in the city of Nara before the 2022 House of Councillors election. During an election-related appearance in Wakayama, also in western Japan, in 2023, an explosive device was hurled toward then Prime Minister Fumio Kishida. More recently, a man tried to attack Prime Minister Shigeru Ishiba's office and the LDP's headquarters while the premier was away campaigning for last October's House of Representatives election. The suspects charged in all of the cases are believed to have acted alone. Since the Abe and Kishida incidents, police have urged campaign organizers to step up security. The senior police official said it is becoming standard for members of the public to face inspections such as bag checks at stump speeches and people have become more cooperative since the high-profile incidents. To ensure security during campaigning in the capital, Tokyo police created a section in April to identify potential lone-wolf attackers by monitoring social media and collating information from other departments. Police also reached agreements with three real estate industry groups in May for the sharing of information about suspicious noises and odors in buildings, after cases in which assailants manufactured weapons and explosives in their apartments. The police will also approach individuals loitering near locations where politicians are scheduled to appear, the official said, adding, "Anyone engaging in suspicious activity will be questioned and asked to have their belongings checked." Related coverage: Campaigning begins for Tokyo assembly vote, ahead of upper house race Japan ruling bloc OKs campaigning on cash handouts in summer election Trial to run political ads at Japan convenience stores canceled
Yomiuri Shimbun
an hour ago
- Yomiuri Shimbun
Ishiba Cabinet Adopts Basic Policy Prioritizing Wage Hikes Over Tax Cuts; National Average Minimum Wage to Increase to ¥1,500 Later this Decade
The Yomiuri Shimbun Prime Minister Shigeru Ishiba speaks at a meeting held at the Prime Minister's Office on Friday. The Cabinet approved the Basic Policy on Economic and Fiscal Management and Reform on Friday. The basic policy states the government will 'pursue a policy of increasing wages over cutting taxes,' aiming to realize a growth-oriented economy through a real wage increase of about 1% per year. This marks the first time Prime Minister Shigeru Ishiba's Cabinet has adopted a basic policy, which outlines the future direction of the government's key policies. 'We'll aim to expand the overall economic pie and realize a growth-oriented economy in which people's wages and incomes continuously increase,' Ishiba said at a meeting of the Council on Economic and Fiscal Policy on Friday. As the House of Councillors election is set to be held this summer, calls for reducing consumption tax have been growing, mostly by opposition parties. In a move to apparently hold such calls in check, the Ishiba administration has emphasized its stance of placing importance on wage increases. In the draft version presented on June 6, the government's wording on wage increases and tax cuts was more direct. However, the wording is believed to have been toned down in consideration to ruling party lawmakers who called for tax cuts. In order to maintain growth amid a declining population, the government has decided it is necessary to realize a real wage increase of about 1% per year under stable price increases, thereby increasing private consumption and investment. The government also stated a policy of raising the national average minimum wage to ¥1,500 later this decade. Regarding rice prices, the government stressed its commitment to 'facilitating the distribution of rice, including government-stockpiled rice.' It also said it would work on developing a comprehensive approach that not only includes consumers but also producers and distributors. The basic policy also referred to reviewing a rice production policy, which effectively amounts to the reduction of rice paddy acreage. On achieving a surplus in the combined primary balance of the central and local governments, the target date has been moved back from fiscal 2025 to fiscal 2025-26. Regarding Japan's nominal gross domestic product, the government has set a target of about ¥1 quadrillion by around 2040. Ishiba said the target will be pursued while simultaneously trying to achieve the primary balance target. In addition to the basic policy, the Cabinet also approved Friday a revised version of its Action Plan for a New Form of Capitalism growth strategy, as well as its Regional Revitalization 2.0 basic initiative.
