Japan Clarifies: No Defense Spending in New US Trade Deal
Japan's top trade negotiator has clarified that the new trade agreement between Japan and the United States does not include any provisions related to defense spending or tariffs on steel and aluminum.
Speaking to reporters in Washington on Wednesday, Ryosei Akazawa, Japan's envoy on tariffs, confirmed, 'The deal does not include anything on defense spending,' putting to rest speculation that military budgets might be part of the broader agreement. This follows earlier calls by U.S. President Donald Trump urging Japan to boost its defense spending.
Akazawa also confirmed that US-imposed tariffs of 50 percent on Japanese steel and aluminum remain unchanged and were not addressed in the newly agreed trade deal. 'If you are asking whether the deal includes steel and aluminium, it does not,' he stated.
Despite the exclusions, the announcement of the trade pact brought a boost to investor confidence. Japan's stock market surged in response, with the Nikkei 225 index jumping 3.18% to close at 41,040.66 yen. The broader Topix index also rose by 3.11%, finishing at 2,924.42 yen — gains led primarily by automotive stocks as the deal includes tariff reductions on vehicles and car parts.
The agreement marks a step forward in trade relations between the two nations, focusing on economic cooperation without touching on more contentious defense or industrial issues.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
19 hours ago
- Daily Tribune
Israel to partially reopen Gaza private goods trade
Undefined Israel will partially reopen private sector trade with Gaza to reduce its reliance on humanitarian aid, the defence ministry civil affairs agency for the Palestinian territories said on Tuesday. 'As part of formulating the mechanism, a limited number of local merchants were approved by the defence establishment, subject to several criteria and strict security screening,' COGAT said. Israel has been fighting Hamas in Gaza for 22 months and imposed a total blockade on March 2, partially lifted in May to allow a US-backed private agency to open food distribution centres. Aid convoys and airdrops by Arab and European militaries resumed last month, as UN-mandated expert reports warned famine was unfolding in the war-torn territory. The COGAT statement said private sector deliveries would be paid for by monitored bank transfers and be subject to inspections by the Israeli military before entering Gaza, 'to prevent the involvement of the Hamas terrorist organisation'. Permitted goods under the new mechanism will include food staples, fruit, vegetables, baby formula and hygiene products, COGAT said. The agency said more than 300 aid trucks entered Gaza on Monday, a larger number than in previous days, and that hundreds more were 'still queued up for UN pickup'.
Daily Tribune
19 hours ago
- Daily Tribune
UN experts call for GHF to be dismantled
United Nations special rapporteurs called yesterday for the Israel- and US-backed Gaza Humanitarian Foundation to be immediately dismantled, saying aid was being "exploited for covert military and geopolitical agendas". An exceptionally-large group of the UN-mandated experts voiced grave concerns over the GHF's operations. The private organisation began distributing food in Gaza Strip in May as Israel began easing a more than two-month aid blockade on the Palestinian territory that had exacerbated existing shortages. "The GHF ... is an utterly disturbing example of how humanitarian relief can be exploited for covert military and geopolitical agendas in serious breach of international law," the experts said in a joint statement. "The entanglement of Israeli intelligence, US contractors and ambiguous non-governmental entities underlines the urgent need for robust international oversight and action under UN auspices. "Calling it 'humanitarian' adds on to Israel's humanitarian camouflage and is an insult to the humanitarian enterprise and standards." On July 22, the UN rights office said Israeli forces had killed more than 1,000 Palestinians trying to get food aid in Gaza since the GHF started operations -- nearly three-quarters of them in the vicinity of GHF sites. "Without clear accountability, the very idea of humanitarian relief may ultimately become a casualty of modern hybrid warfare," the special rapporteurs said. "The credibility and effectiveness of humanitarian assistance must be restored by dismantling the GHF, holding it and its executives accountable, and allowing experienced and humanitarian actors from the UN and civil society alike to take back the reins of managing and distributing lifesaving aid." The joint statement was signed by Francesca Albanese, the UN's special rapporteur on the rights situation in the Palestinian territories occupied since 1967. Israel accuses her of having an "obsessive, hate-driven agenda to delegitimise the state of Israel". The statement was also signed by 18 other special rapporteurs, plus other UN experts and members of UN working groups -- a notably large number for such statements. Special rapporteurs are independent experts mandated by the UN Human Rights Council to report their findings. They do not, therefore, speak for the United Nations itself. More than two million people live in the Gaza Strip. GHF says it has distributed more than 1.76 million boxes of foodstuffs to date. "We continue to improve our operations," GHF executive director John Acree said Monday. "We urge the international humanitarian community to join us -- we have the scale and capacity to deliver more aid to the people of Gaza."
Daily Tribune
19 hours ago
- Daily Tribune
JD Vance ‘Most Likely' MAGA Heir, Says Trump
President Donald Trump suggested that Vice President JD Vance is likely to be the future face of the 'Make America Great Again' movement, possibly leading the Republican Party in the 2028 presidential race. In an interview, Fox News' Steve Doocy asked if Vance is the clear heir to MAGA. Trump replied, 'Well, I think most likely. In all fairness, he's the vice president.' He also floated the idea of Senator Marco Rubio as a potential running mate for the future, saying Rubio 'maybe would get together with JD in some form.' Meanwhile, Trump turned his attention to the 2028 Summer Olympics in Los Angeles. On Tuesday, he signed an executive order creating a task force to oversee preparations for the Games. The task force will focus on security, logistics, and smooth entry for athletes, coaches, media, and visitors traveling to the United States. It will also handle visa processing and event credentialing. 'The L.A. Olympics is shaping up to be a wonderful moment for America. It's going to be incredible. It's so exciting,' Trump said at the White House, calling the Games a major highlight for the country. The 2028 Summer Games will mark the first time the United States has hosted the Olympics since the 2002 Winter Games in Salt Lake City. Trump said the goal is to make the Los Angeles Olympics 'safe, seamless, and historically successful.'
