logo
Japan's Ishiba says Bessent confident of 'good' tariff deal

Japan's Ishiba says Bessent confident of 'good' tariff deal

Nikkei Asia3 days ago
U.S. Treasury Secretary Scott Bessent shakes hands with Japanese Prime Minister Shigeru Ishiba in Tokyo on July 18. (Photo by Uichiro Kasai)
SATOSHI TEZUKA
TOKYO -- Japanese Prime Minister Shigeru Ishiba on Friday called for more talks with the U.S on a tariff deal after meeting here with President Donald Trump's treasury chief, Scott Bessent, seeking to clinch an agreement after a weekend parliamentary election.
Bessent said during the meeting that a "good deal" was definitely possible, Ishiba told reporters afterward.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ishiba's weakened mandate complicates US trade and defense plans: analysts
Ishiba's weakened mandate complicates US trade and defense plans: analysts

Nikkei Asia

timean hour ago

  • Nikkei Asia

Ishiba's weakened mandate complicates US trade and defense plans: analysts

U.S. President Donald Trump watches Japanese Prime Minister Shigeru Ishiba during a joint press conference in the East Room of the White House on Feb. 7. © Reuters KEN MORIYASU WASHINGTON -- The U.S.-Japan alliance has entered a period of uncertainty, American think tank analysts say, after Sunday's upper house Diet election resulted in Japan's ruling Liberal Democratic Party having lost its majority in both legislative chambers for the first time since its founding in 1955. Prime Minister Shigeru Ishiba, after losing two consecutive national elections, faces heavy criticism from LDP lawmakers over his decision to continue as Japan's leader. Complicating the matter further is that opposition parties have not offered clear strategies for dealing with U.S. President Donald Trump.

Despite election loss, Japan says seeking US trade deal by Aug. 1
Despite election loss, Japan says seeking US trade deal by Aug. 1

The Mainichi

timean hour ago

  • The Mainichi

Despite election loss, Japan says seeking US trade deal by Aug. 1

WASHINGTON (Kyodo) -- Japan's chief tariff negotiator, Ryosei Akazawa, said Monday that he will aim for some kind of trade agreement with the United States by Aug. 1, a deadline set by President Donald Trump to wrap up bilateral talks. "I don't have (such a concern)," Akazawa told reporters at an international airport near Washington upon his arrival, when asked whether the Japanese governing coalition's huge loss in Sunday's upper house election will make the stalled bilateral negotiations even more difficult. "I believe that both Japan and the United States have a desire to reach some kind of agreement by then," Akazawa said, referring to the deadline when a pause on Trump's so-called reciprocal tariffs is due to expire. Akazawa arrived in Washington for his eighth round of in-person negotiations with U.S. Cabinet members. He departed Tokyo just a day after the national election, in which Japanese Prime Minister Shigeru Ishiba's ruling coalition lost its majority in the House of Councillors. The defeat, resulting from the Japanese public's frustration over rising living costs, left the coalition led by his Liberal Democratic Party with a minority in both chambers of parliament, as it failed to secure a majority in last year's election for the more powerful House of Representatives. If there is no deal with the Trump administration by the deadline, Japan is set to face a country-specific tariff of 25 percent on its goods, which would be a further drag on its economy. The higher tariff would come on top of auto and other hefty sector-based duties that took effect earlier this year in the name of protecting U.S. national security. During his visit through Wednesday, Akazawa said he will seek to hold talks with U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer if their respective schedules allow. In a CNBC interview before Akazawa's arrival, Bessent said, "Our priorities are not the internal workings of the Japanese government. Our priorities are getting the best deal for the American people," when asked about the election outcome's potential impact on the ongoing talks. During a press conference in Tokyo on Monday, Ishiba, who has vowed to stay on as prime minister, highlighted that Japan is the world's largest investor and job creator in the United States. "Therefore, or should I say precisely because of this, we have been saying investment rather than tariffs and making various efforts in a bid to gain the understanding (of the United States)," Ishiba said. Trump announced sweeping tariffs on April 2, targeting dozens of countries with which the United States runs trade deficits, before pausing them for 90 days to provide time for talks. But the Trump administration has extended the pause to Aug. 1 amid little progress in its talks with major trading partners, including Japan, South Korea and the European Union. Since the launch of Japan's talks with the United States in April, Akazawa's team has prioritized persuading the administration to review the auto tariff, which Trump raised by 25 percentage points to 27.5 percent in April. The team has presented a set of proposals aimed at reducing Japan's trade surplus with the United States, including increasing imports of American corn and liquid natural gas. But the United States has shown no signs of budging on the new auto tariff rate, with Trump instead ramping up pressure on Japan by repeating his frequent criticism that the key U.S. ally has been reluctant to import American cars and agricultural products. (By Takuya Karube)

Right-leaning group rises in Japan amid voter discontent
Right-leaning group rises in Japan amid voter discontent

Japan Today

time2 hours ago

  • Japan Today

Right-leaning group rises in Japan amid voter discontent

A plainclothes police officer intervenes as an anti-Sanseito protester argues with a party supporter during a rally in Tokyo on Monday. The right-leaning fringe group Sanseito and the small opposition Democratic Party for the People made significant gains in Sunday's House of Councillors election, apparently reflecting voter frustration with mainstream parties and rising cost-of-living pressures. Sanseito, founded in 2020 through YouTube recruitment, has drawn attention with its "Japanese First" slogan and controversial rhetoric, particularly toward foreigners, raising concerns of xenophobia. "I felt the tailwind blowing stronger in the 17 days (of election campaigning)," said Sohei Kamiya, the 47-year-old leader of the fledgling populist party. He denied having any intention to discriminate against foreigners. Speaking on a television program, Kamiya, who was first elected to parliament in 2022, said the strong support for his party signaled voter expectations for its push to cut taxes, boost public spending to support the economy and curb the influx of foreign workers into the aging nation, despite acute labor shortages. "We will raise the issues in the Diet," he said. Kamiya has claimed that globalization is the "reason behind Japan's poverty," arguing that foreigners are buying up land and company stocks, and criticizing what he views as the unchecked inflow of foreign labor. Of the 125 seats contested in the 248-member upper house, Sanseito secured at least 13, up from the one it held before the election and surpassing its initial target of six. The DPP won at least 16 seats, up from four. Including seats not contested in Sunday's election, Sanseito will hold at least 14 seats, including Kamiya's, giving the party enough to propose legislation. Sanseito appears to have drawn broad support from younger voters, with a Kyodo News exit poll showing that over 20 percent of those aged 18 and 19, as well as voters in their 20s and 30s, backed the party in the proportional representation vote. Sanseito also made some inroads among unaffiliated voters, with 11 percent saying they cast their ballots for the party -- the fourth-highest share after the DPP, the main opposition Constitutional Democratic Party of Japan and the ruling Liberal Democratic Party. © KYODO

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store