Ishiba, Trump to meet on G7 fringes: Japan PM
KYODO NEWS - 19 hours ago - 09:29 | All, Japan, World
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 the United States, Ishiba told reporters after a 20-minute phone call with Trump that Japan's stance of urging the administration to eliminate its higher tariffs on Japanese products remains unchanged.
Ishiba also said he and Trump shared the view that peace and stability in the Middle East are important, following a spike in tensions after Israel's attack on Iran.
"We confirmed that we will further deepen our discussions on bilateral cooperation when we meet next week on the occasion of the G7 (summit)," Ishiba said, adding that no specific date has been set.
The two leaders agreed on the need to accelerate ministerial negotiations to reach "a deal that will be beneficial to both Japan and the United States," Ishiba said.
The premier said the leaders did not discuss in their call the possibility of him visiting the United States prior to the G7 summit. Ishiba and Trump also held telephone conversations twice in late May.
Japan's chief tariff negotiator Ryosei Akazawa, known as a close aide to Ishiba, is expected to hold talks with senior U.S. officials in Washington on Friday, ahead of the two-day G7 meeting from Monday in Canada's Kananaskis.
Tokyo has been calling on Washington to reconsider its tariff policy targeting imports ranging from cars and auto parts to steel and aluminum. It was the third telephone conversation between Ishiba and Trump in roughly a month, with the previous one on May 29.
Ishiba, meanwhile, said he extended birthday wishes to Trump during the phone call requested by Japan. The U.S. leader turns 79 on Saturday.
Related coverage:
Japan hopes for special treatment as Trump hints at auto tariff hike
Trump says U.S. Steel controlled by him with "golden share"
Japan PM hopes for progress in U.S. tariff talks, in no rush for deal
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kyodo News
2 hours ago
- Kyodo News
Japan firms push for individual investment options for aircraft, cars
KYODO NEWS - 12 hours ago - 09:54 | All, Japan Some Japanese firms are looking to provide individuals with opportunities to invest in commercial vehicles such as aircraft and rental cars for island tourism, hoping such products will help investors to broaden their portfolios beyond traditional stockholdings. In what it calls Japan's first publicly offered aircraft investment product tailored for individual investors, FPG Securities Co. will start soliciting funds for an Airbus A320-200 from late June, with the minimum investment amount set at 1 million yen ($7,000) per unit. The small-lot product will make it accessible for individuals to "own" aircraft, which can cost more than 10 billion yen when brand new and are usually targets for investment by major trading houses and institutional investors. As the Airbus aircraft will be leased to Spain's flagship airline Iberia, investors will be paid annual dividends from the leasing revenues and may also earn returns from the capital gain on its eventual sale. With the investment term set for two years and 10 months, the company is projecting a first-year return rate of around 6 percent. The product carries the risk of falling below its initial value at redemption, such as in the case of a decline in air travel demand due to conflicts and pandemics. Mitsubishi UFJ Trust and Banking Corp., meanwhile, is preparing to launch an investment product for retail investors in collaboration with a rental car business affiliated with Idom Inc., operator of used-car chain Gulliver. A total of 200 cars purchased by the financial institution in the southern island prefecture of Okinawa in March are to be packaged as a small-lot investment product within the next few years. While investors can gain from returns from the rental company's profits, the rental firm will not have to borrow funds from banks. "We hope investors will see this as a way to secure means of transportation at a tourist site and help address challenges such as overtourism," a Mitsubishi UFJ Trust and Banking official said. Related coverage: Gold investments booming in Japan as U.S. tariffs stir economic fears Japan gov't official vows to work to defend global financial markets Japan mulls creating new tax-free investment program for seniors
Kyodo News
2 hours ago
- Kyodo News
Panel to propose Japan weigh defense spending above 2% of GDP
KYODO NEWS - 3 minutes ago - 22:01 | All, Japan A Defense Ministry panel is set to propose that the government consider raising defense spending beyond the current goal of 2 percent of gross domestic product, sources close to the matter said Sunday. In a draft proposal to be presented to the government soon, the panel, set up in February 2024, also calls for discussions on deploying submarines equipped with long-range missiles, including nuclear-powered ones, to strengthen the country's deterrence capability, the sources said. It remains unclear how the proposal will be reflected in Japan's defense policy, as questions remain over how to fund a larger budget and whether using nuclear power for defense purposes would conflict with the country's policy of peaceful atomic energy use. The government "should not hesitate to pursue the further strengthening of defense capabilities after the achievement" of the current target to have defense-related spending account for 2 percent of GDP, the panel says in the draft proposal, according to the sources. The panel says submarines that enable Japan to strike from beyond an enemy's missile range would significantly enhance the country's deterrence capability. The government should discuss all possible options for propulsion systems, including nuclear power for the submarines, "without taboos," the panel says. The panel, chaired by Sadayuki Sakakibara, the former chairman of the Japan Business Federation, was set up to discuss how the country's defense capabilities should be bolstered in line with its current defense buildup plan. The plan, known as the Defense Buildup Program, allocates 43 trillion yen ($298 billion) over five years through March 2028, aiming for defense spending to reach 2 percent of GDP in fiscal 2027. Japan's annual defense budget had long been capped at around 1 percent of GDP. The program was adopted in December 2022 as part of three key security documents that marked a major shift in defense policy for a country with a pacifist Constitution, including a plan to acquire strike capabilities that could reach an adversary's territory. "It is necessary to make efforts to achieve the 2 percent target ahead of schedule and compile the next defense strategy and the buildup plan," the panel says in the draft proposal. The panel, made up of experts in security, the economy, and science and technology, also calls for the full-fledged introduction of unmanned defense equipment using cutting-edge artificial intelligence technologies, the sources said. The government should consider using unmanned aircraft for continuous day-and-night aerial monitoring, the panel says, following a May incident in which a Chinese military helicopter entered Japanese airspace near the Japanese-administered Senkaku Islands in the East China Sea, which are claimed by Beijing. Related coverage: Philippines, Japan conduct joint exercise in South China Sea Japan draws up 100 bil. yen policy to attract foreign researchers Japan conveys strong concern over China jet flying close to SDF plane
Kyodo News
3 hours ago
- Kyodo News
Philippines, Japan conduct joint exercise in South China Sea
KYODO NEWS - 22 hours ago - 22:44 | All, World, Japan The Philippines and Japan conducted a joint maritime exercise Saturday in an area of the South China Sea that the Southeast Asian country insists it has jurisdiction over, amid China's intensifying claims in the waters. The Miguel Malvar, a guided missile frigate from the Philippine Navy and the Takanami, a destroyer from Japan's Maritime Self-Defense Force, took part in the exercise, which was held west of the town of Masinloc on the Philippines' main island of Luzon. The exercise, called the Maritime Cooperative Activity, is aimed at strengthening international cooperation to achieve a free and open Indo-Pacific, the Philippine military has said. Kyodo News and some other select members of the media from the Philippines and Japan were onboard the frigate, and watched it and the Japanese ship conduct an anti-submarine warfare drill that the countries did not conduct during their first such exercise last August. "The spirit of friendship and mutual respect in our maritime forces remain vital in promoting peace, stability and maritime security in the region," Capt. Paul Michael Hechanova, commander of the Miguel Malvar, said in a message to the Takanami, as seen in a video released by the Philippine military. Two Chinese navy ships were spotted from a distance but there were no radio challenges or other untoward incidents. The Philippines has reported repeated incursions by Chinese vessels in its exclusive economic zone, some sailing to within some 50 nautical miles of Luzon's shore earlier this year. China rejects a 2016 ruling by the Permanent Court of Arbitration in The Hague that invalidated the country's claims over almost the entire South China Sea. Japan and the Philippines signed a Reciprocal Access Agreement to facilitate joint exercises and disaster relief operations last July, and aside from holding bilateral drills the two countries have also taken part in multilateral exercises involving the United States and Australia, among others. Related coverage: China, ASEAN, Arab states hold 1st summit to bolster economic ties ASEAN leaders meet as U.S. tariffs rattle regional economies Japan PM hails "relations of trust" with Vietnam, Philippine leaders
