Top Japan trade envoy to head for US for fresh tariff negotiations
Japan's top negotiator in tariff talks with the United States is scheduled to leave for Washington on Friday.
Economic Revitalization Minister Akazawa Ryosei is expected to engage in a third round of ministerial discussions the following day.
He said on Tuesday, "It's important to achieve an agreement that's a win for both countries. Japan's national interests must not be damaged by prioritizing an early consensus."
Akazawa is expected to ask the US again to review levies imposed on Japanese autos and other products.
Tokyo has already presented plans to buy more goods from the US. This includes a review of procedures to make it easier to import American cars.
Japan has also made a proposal to increase imports of soybeans and corn.
Meanwhile, Washington has given Tokyo a list of what it considers to be non-tariff trade barriers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Japan Times
an hour ago
- Japan Times
Ishiba eyes trade meeting around Trump's birthday before G7 meet, report says
Prime Minister Shigeru Ishiba is considering visiting Washington to meet U.S. President Donald Trump before a midmonth summit of Group of Seven nations as he seeks a trade deal, the Yomiuri Shimbun reported Sunday. Japanese officials see signs of progress on easing Trump's tariffs after repeated visits by top tariff negotiator Ryosei Akazawa, and say the U.S. side has shown strong interest in Japan's proposals, the Yomiuri said, citing Japanese government officials it did not name. The idea of holding an Ishiba-Trump summit before the G7 meeting, which is scheduled to begin June 15 in Canada, gained traction because it would allow for more focused discussions than if they were to hold talks at the leaders' confab. Since Trump's 79th birthday is on June 14, some within the Japanese government have said that an agreement announced on this date would have special symbolic significance for the U.S. president, who is also scheduled to view a military parade celebrating the U.S. Army's 250th anniversary in the Washington the same day. Economy Minister Akazawa will return to the U.S. capital for more talks later this week, after which a decision will be made on a U.S. trip by Ishiba, the newspaper said. The White House and the Prime Minister's Office did not immediately respond to requests for comment outside business hours. Speaking to reporters upon returning on Sunday from his visit to Washington for a fourth round of negotiations, Akazawa said talks are progressing toward an agreement but that the form of negotiations before the G7 summit was yet to be decided. Japan, a major U.S. ally, faces what Trump calls a reciprocal tariff of 24% from next month unless it can negotiate a bilateral deal. Tokyo is also scrambling to find ways to get Washington to exempt its automakers, Japan's biggest industry, from 25% tariffs on automobiles. Trump said on Friday he planned to double the tariffs on all imported steel and aluminum to 50%. Akazawa declined to comment on those tariffs on Sunday. He said U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent did not mention them during the most recent negotiations. Akazawa said Friday the two sides had "agreed to accelerate the talks and hold another round ahead of the G7 summit," to be held from June 15 to 17 in Canada. But he said there would be no deal without U.S. concessions on tariffs, including on autos. Ishiba has said bilateral negotiations were progressing on trade expansion, nontariff measures and economic security, while Tokyo has mentioned possible increases in its purchases of U.S. military equipment and energy, as well as cooperation on shipbuilding and repairing U.S. warships in Japan.
an hour ago
Timeline for May 2025
The Bank of Japan decides at its policy meeting to keep its short-term interest rate at 0.5%. Due to the impact of tariffs imposed by US President Donald Trump, it also significantly revises downward its economic growth forecast for this fiscal year. After the second round of negotiations over tariffs between Japan and the United States is held in Washington, Minister for Economic Revitalization Akazawa Ryōsei says that discussions went further in-depth concerning trade expansion, nontariff barriers, and economic security. From right, Minister for Economic Revitalization Akazawa Ryōsei and US representatives Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer line up for a photograph during Japan-US tariff negotiations in Washington DC on May 1, 2025. (© Jiji) 2 A search team discovers a body inside the truck that fell into a sinkhole that suddenly opened on a road in Yashio, Saitama, in January. The body is removed from the sewage network and brought to the surface. 3 A man is arrested by Kanagawa police after the body of a woman who was his former girlfriend is found in his house in Kawasaki. The woman's family criticizes the police for failing to respond appropriately. 4 The Ministry of Internal Affairs and Communications announces that Japan's child population aged under 15 as of April 1, including foreign residents, is 13.7 million, after a decrease of 350,000 year on year. This is the forty-fourth straight year that the number has fallen. 6 The J-pop group Arashi announces that it will disband after its 2026 concert tour. 8 Toyota forecasts a 34.9% drop in its net profit to ¥3.1 trillion in the current fiscal year, due in part to the impact of the Trump tariffs. 9 House of Councillors lawmaker Nishida Shōji of the Liberal Democratic Party retracts his comment criticizing the Himeyuri Cenotaph that commemorates student nurses who died during the Battle of Okinawa as 'rewriting history,' saying that it was highly inappropriate. However, he says that his opinion has not changed. On May 16, the Okinawa Prefectural Assembly passes a resolution protesting his comment as an insult to the war dead. 10 A Buddhist statue, stolen in 2012 from the temple Kannonji in Tsushima, Nagasaki, and taken to South Korea, is returned to the temple. 12 A 15-year-old boy is arrested on suspicion that he killed an 84-year-old woman who was stabbed to death the previous day in the city of Chiba. 13 After posting a huge net loss for fiscal 2024 of ¥671 billion, Nissan announces plans to close seven factories and cut 20,000 jobs. A research team identifies a fossil found in Mifune, Kumamoto, around 30 years ago as a new kind of pterosaur, the first to be discovered in Japan. Its scientific name is Nipponopterus mifunensis . 15 The combined net profit of Japan's big three megabanks hits a record ¥3.9 trillion for fiscal 2024, due partly to higher interest rates. 16 Japan's Diet passes a new active cyberdefense bill, making it possible for the government to monitor internet communications to prevent attacks. The Japan Meteorological Agency announces that Southern Kyūshū has entered the rainy season. This is 23 days earlier than in 2024 and 14 days earlier than average. It is the first time for an area other than Okinawa and Amami Ōshima to enter rainy season first since records began 62 years ago. 18 Princess Aiko goes to the Noto Peninsula in Ishikawa Prefecture for two days until May 19, in her first official visit to a disaster-hit area. Princess Aiko talks to residents of Shika on the Noto Peninsula on May 19, 2025. (© Jiji; pool photo) 20 Tokyo Governor Koike Yuriko announces that the metropolitan government will waive basic water supply charges for all ordinary households for around four months this summer as a measure against the effects of inflation. The overall reduction in utility bills aims to free up funds for the use of air conditioning to reduce incidences of heatstroke. 21 Minister of Agriculture, Forestry, and Fisheries Etō Taku resigns after a gaffe in which he said he had never bought rice because his supporters give it to him. He is succeeded by Koizumi Shinjirō. 22 At the inaugural Music Awards Japan, the musical act Creepy Nuts wins nine awards, including Song of the Year for 'Bling-Bang-Bang-Born.' The members of Creepy Nuts show big smiles after winning the Song of the Year award at Rohm Theater in Kyoto on May 22, 2025. (© Jiji) 23 After the third round of negotiations over tariffs between Japan and the United States is held in Washington, Minister for Economic Revitalization Akazawa states that it was possible to have franker and more in-depth discussions than on the previous occasion. The two sides are targeting an agreement before the next Group of Seven summit in June. President Trump announces his backing for a 'planned partnership' between Nippon Steel and US Steel on social media, claiming that the huge investment will create 70,000 jobs and add $14 billion to the US economy. 26 New Minister of Agriculture, Forestry, and Fisheries Koizumi announces the sale of 300,000 tons of stockpiled rice on no-bid contracts at prices around half of winning bids at previous auctions, in an attempt to bring down soaring rice prices. The ministry begins accepting applications from major retailers on the same day. 28 The Japan Sumō Association board decides unanimously to promote rikishi Ōnosato to the rank of yokozuna . He is the first Japanese-born wrestler to become yokozuna since 2017, when the title went to Kisenosato, who is now Ōnosato's stablemaster under the name Nishinoseki. Ōnosato (center) holds two celebratory sea breams in Tsukuba, Ibaraki, on May 25, 2025, after winning the summer tournament. (© Jiji) 29 Tsutsui Yoshinobu becomes the new chair of Keidanren shortly after leaving his position as chairman of Nippon Life Insurance. He is the first representative of the finance world to head the business organization. 30 After the fourth round of negotiations over tariffs between Japan and the United States is held in Washington, Minister for Economic Revitalization Akazawa says that the two sides have confirmed each other's positions and are working toward an agreement. The Imperial Household Agency announces that Komuro Mako—formerly Princess Mako—has given birth to a child. It is unclear when the child was born and if it is a boy or girl. (Originally published in Japanese. Banner photo: Minister of Agriculture, Forestry, and Fisheries Koizumi Shinjirō inspects the rice on sale at a Tokyo supermarket on May 23, 2025. © Jiji.)
NHK
an hour ago
- NHK
South Korean voters to head to polls Tuesday to choose president
Voters in South Korea will go to the polls on Tuesday to choose a new president. Candidates from the ruling and opposition parties will make their final pitch to voters on Monday, the campaign's final day. The two leading candidates are Lee Jae-myung of the largest opposition Democratic Party and Kim Moon-soo of the conservative ruling People Power Party. Opinion polls have suggested that Lee is the frontrunner, with Kim trailing behind. But the results of a Gallup Korea survey released on May 23 showed that the gap between the two had narrowed to 9 percentage points. Kim's supporters have been calling for Lee Jun-seok of the minor conservative Reform Party to drop his candidacy to unify conservatives behind Kim. But the attempt has failed as the 22-day campaign period comes to an end. Vote counting is scheduled to start as soon as the ballot boxes are closed on Tuesday.
