logo
Japan PM Ishiba mulls Trump trade meeting before G7, says Yomiuri newspaper

Japan PM Ishiba mulls Trump trade meeting before G7, says Yomiuri newspaper

Reuters2 days ago

TOKYO, June 1 (Reuters) - Japanese Prime Minister Shigeru Ishiba is considering visiting Washington to meet President Donald Trump before a mid-month summit of the Group of Seven nations as he seeks a trade deal, the Yomiuri newspaper reported on 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.
Economy Minister Akazawa will return to Washington for more talks late this week, after which a decision will be made on a U.S. trip by Ishiba, the newspaper said.
The White House and the Japanese Prime Minister's Office did not immediately respond to requests for comment outside business hours.
Japan, a major U.S. ally, faces a 24% tariff from next month unless it can negotiate a bilateral deal. It is also scrambling to find ways to get Washington to exempt its automakers from 25% tariffs on automobiles, Japan's biggest industry.
Some Japanese government officials hope an agreement can be announced in time for President Trump's birthday on June 14, the Yomiuri said.
Akazawa, after meeting Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, said on 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, non-tariff 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.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Elon Musk ally loses Trump's backing for Nasa top job
Elon Musk ally loses Trump's backing for Nasa top job

Telegraph

time32 minutes ago

  • Telegraph

Elon Musk ally loses Trump's backing for Nasa top job

Donald Trump has dropped a SpaceX astronaut as his candidate to lead Nasa just hours after Elon Musk left the White House. Jared Isaacman, a technology entrepreneur who has flown on two missions for Mr Musk's rocket business, had been tipped to lead Nasa under Mr Trump. However, the president said on Sunday he had withdrawn his nomination 'after a thorough review of prior associations'. Some Republicans had raised questions about Mr Isaacman's past political donations. The entrepreneur had previously donated hundreds of thousands of dollars to Democrat politicians, although he also gave $2m (£1.5m) to Mr Trump's inauguration fund last year. Mr Trump said on Truth Social: 'After a thorough review of prior associations, I am hereby withdrawing the nomination of Jared Isaacman to head NASA. I will soon announce a new Nominee who will be Mission aligned, and put America First in Space. Thank you for your attention to this matter!' The decision comes hours after Mr Musk officially left his role in the Trump administration. At an Oval Office press conference on Friday, Mr Trump praised him as 'one of the greatest business leaders and innovators the world has ever produced'. However, Mr Musk's exit follows signs of growing tension between the pair. Mr Musk has publicly derided several of Mr Trump's policies, labelling his planned tax and spending bill 'disappointing', while Tesla, his electric car business, has criticised White House plans to strip subsidies from clean energy products. Mr Isaacman's nomination had been welcomed by the space industry, who viewed him as an experienced businessman with first-hand experience of space travel. The 41-year-old became both the first billionaire and first private citizen to walk in space last year when he led SpaceX's Polaris Dawn mission. He founded Shift4 Payments in 1999, aged just 16. The business is now worth $8bn. As head of Nasa, he would have been in charge of preparing for a space mission to take humans back to the Moon in 2027 using Mr Musk's Starship rocket. Mr Musk said on Sunday: 'It is rare to find someone so competent and good-hearted.' In a post on X, Mr Isaacman said: 'The President, Nasa and the American people deserve the very best – an administrator ready to reorganise, rebuild and rally the best and brightest minds to deliver the world-changing headlines Nasa was built to create.' A White House spokesman said: 'The administrator of Nasa will help lead humanity into space and execute President Trump's bold mission of planting the American flag on the planet Mars. It's essential that the next leader of Nasa is in complete alignment with President Trump's America First agenda and a replacement will be announced directly by President Trump soon.'

Trump budget proposes closing Northeast heating oil reserve
Trump budget proposes closing Northeast heating oil reserve

Reuters

time33 minutes ago

  • Reuters

Trump budget proposes closing Northeast heating oil reserve

WASHINGTON, June 2 (Reuters) - President Donald Trump's budget proposes to shut as soon as in a few months the Northeast Home Heating Oil Reserve, which stores 1 million barrels of diesel and was designed to protect consumers. The reserve, created in 2000 by former President Bill Clinton, holds enough for roughly 10 days of heating homes. It has not been tapped since 2012, when it provided fuel to emergency responders in the aftermath of Hurricane Sandy. The proceeds of a sale of the ultra-low sulfur diesel in fiscal year 2026 would go to U.S. deficit reduction, the proposal said. At current prices, revenues from a sale would be about $86 million, but closing the facility could save on maintenance costs. U.S. budget proposals lay out an administration's policies, and what lawmakers ultimately adopt often differs from White House requests. Trump's predecessor, former President Joe Biden, had proposed in November, 2022 to expand the reserve as a protection against spikes in heating oil prices and inflation after Russia's full-scale invasion of Ukraine boosted energy prices. That plan, never put in place, would have funded purchases from the reserve from revenue from sales from the Strategic Petroleum Reserve, the world's largest emergency stockpile of crude oil. The Department of Energy did not immediately respond to a request for comment about the proposal to close the heating oil reserve.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store