Japan to continue to seek tariff removal in latest negotiations ahead of G7
Japan will stick to its stance of seeking to have all U.S. tariffs be removed in what could be the final ministerial-level talks ahead of a leaders' summit this month, the nation's top trade negotiator Ryosei Akazawa said.
"Japan will continue to strongly urge the U.S. to reconsider its series of tariff measures,' Akazawa said Thursday in Tokyo as he left for Washington.
He added that he's not sure which U.S. officials will meet him for the fifth round of trade negotiations.
Akazawa is set to return to Japan on Sunday, about a week before the Group of Seven gathering convenes in Canada. Prime Minister Shigeru Ishiba and U.S. President Donald Trump are expected to meet on the sidelines, with anticipation mounting for an announcement of a trade deal.
Earlier this week, Akazawa said Japan will continue to seek a full reversal of the U.S. tariffs, adding that he didn't plan to accompany Ishiba to the G7 summit. While he cited progress toward an agreement after the previous round of talks, the U.S. this week doubled a levy on steel and aluminum to 50%.
"We are collecting and analyzing information on the impact,' Akazawa said about the metals tariff. "We will respond appropriately based on the results of that analysis.'
As with many other nations, Japan also faces a 25% levy on cars and a 10% levy on all other goods. The across-the-board tariff is set to rise to 24% in early July barring a deal.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Mainichi
an hour ago
- The Mainichi
Japan Diet OKs defense cooperation pact with Philippines
TOKYO (Kyodo) -- Japan's parliament on Friday approved legislation for a defense cooperation agreement with the Philippines, as the two countries step up security ties with an eye on China's maritime assertiveness in nearby waters. The reciprocal access agreement eases restrictions on the movement of personnel between the two forces to facilitate joint drills and disaster relief operations, making the Philippines Japan's third RAA partner after Australia and Britain. The House of Councillors, Japan's upper chamber, approved the pact after the House of Representatives, the lower chamber of the Diet, endorsed it last month. The two Asian countries signed the deal in July last year during two-plus-two ministerial security talks in Manila. Tokyo and Manila share concerns over Beijing's maritime activities, as Chinese vessels have clashed with Philippine ships near disputed shoals in the South China Sea and repeatedly entered waters around the Japan-controlled, China-claimed Senkaku Islands in the East China Sea. On Friday, Japan's upper house also approved an acquisition and cross-servicing agreement with Italy to streamline procedures for providing supplies and services such as food, fuel, ammunition and repair work between their forces.
an hour ago
Japan to Review WWII after Summer Upper House Election
News from Japan Politics Jun 6, 2025 20:40 (JST) Tokyo, June 6 (Jiji Press)--The Japanese government will review World War II at an expert panel after this summer's election for the House of Councillors, the upper chamber of the Diet, government sources said Friday. Prime Minister Shigeru Ishiba's administration was considering setting up the panel as early as April. The start of the review will be delayed significantly as the government is busy tackling many important issues including tariff negotiations with the United States and soaring rice prices. The Ishiba administration is unlikely to release a government statement to mark this year's 80th anniversary of the country's surrender in the war. Previously, the government considered having the panel release a report on the outcome of its discussions toward the Aug. 15 anniversary. With the postponement of the review, the release will also be delayed. [Copyright The Jiji Press, Ltd.] Jiji Press
The Mainichi
2 hours ago
- The Mainichi
Japan vows to achieve wage-driven growth in draft policy blueprint
TOKYO (Kyodo) -- The Japanese government has pledged to pursue economic growth driven by sustainable wage hikes, aiming to nearly double gross domestic product by around 2040, according to a draft policy blueprint unveiled Friday. Facing uncertainty from higher U.S. tariffs and prolonged inflation weighing on household spending, Prime Minister Shigeru Ishiba's government vowed in its draft economic and fiscal policy plan to achieve wage increases that outpace rising prices. The blueprint, whose draft was presented to the Council on Economic and Fiscal Policy on Friday, is set to be finalized next week. Once adopted, it will serve as the basis for the government's budget and tax reform proposals for the next fiscal year. Amid mounting concern about Japan's fiscal health, the worst among advanced economies, the Ishiba administration will continue striving to maintain market confidence, the draft said, with interest rates on longer-term government bonds on an upward trend. But the timeline for attaining a surplus in the primary balance -- annual tax and nontax revenues minus spending other than debt-servicing costs -- was pushed back from fiscal 2025 to sometime between that year and fiscal 2026 through March 2027. On the U.S. tariffs under President Donald Trump, the draft said the levies pose downside risks to Japan's export-reliant economy, as they could eventually dampen corporate and consumer sentiment, dragging down consumption and investment. While negotiations are ongoing to urge the United States to review its trade policies, the Japanese government will implement measures to mitigate the negative impact on the broader economy, including support for corporate financing, the draft said. As the country's working-age population is shrinking, the government promised to secure economic growth of about 3 percent, which would lead to GDP of 1,000 trillion yen ($7 trillion) by around 2040, up from its current level of 600 trillion yen. To steadily deliver annual inflation-adjusted wage expansion of around 1 percent across Japan, the government said it will shore up small and mid-sized companies by helping them pass rising costs on to clients and strengthen their business foundations.
