Japan's business community expresses relief after the Ishiba-Trump summit
There was a sense of relief among Japanese companies that Trump did not propose a difficult deal, but uncertainty about the future still continues.
"It's very significant that the meeting, aimed at strengthening relations with the United States, was successfully held," Masakazu Tokura, chairman of the Japan Business Federation, or Keidanren, told a news conference on Monday.
Tokura noted that Ishiba and Trump confirmed the importance of Japan-U.S. cooperation not only in the security field, but also in the economic field.
Ken Kobayashi, head of the Japan Chamber of Commerce and Industry, said in a statement that the meeting was an important step in building a relationship of trust between the Japanese and U.S. leaders.
But at the same time, Trump mentioned his eagerness to eliminate the U.S. trade deficit with Japan. He seems ready to correct it through tariffs.
An official of a major Japanese automaker said that tariffs, if imposed, would dampen exports to the United States. "We would like to ask the government to take measures, such as tax cuts, to make it easier to sell even some of our vehicles in Japan," the official added.
"We could take a blow (from tariffs) as we import raw materials and other goods from the United States and China, but we believe the impact would be limited at this point," Ayako Hirofuji, chief financial officer of cosmetics maker Shiseido, said at a press conference on Monday. "We'll monitor future developments."
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