Japan, U.S. yet to find common ground on tariffs but want quick deal

Kyodo News

17 hours ago

By Takuya Karube, KYODO NEWS - 30 minutes ago - 12:50 | All, Japan, World
Japan and the United States have "yet to find common ground" on tariff issues, Tokyo's top negotiator said Friday, indicating that there remain many differences between the sides, but they still aim to clinch a win-win deal in mid-June.
After holding talks with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington, Ryosei Akazawa told reporters that he believes "further progress" was made.
They will also "continue coordinating energetically to achieve an agreement that benefits both Japan and the United States," Akazawa said.
Akazawa, however, noted that no decision has been made on whether there will be another round of negotiations next week or beyond. He suggested it depends on the schedule of the U.S. Cabinet members who are due to hold high-level trade talks with China in London on Monday.
Akazawa, Japan's minister for economic revitalization, and Bessent sat down for about 45 minutes to explore whether it may be feasible for the countries' leaders to reach a trade agreement when they are expected to meet in person in about 10 days.
With Lutnick, whom Akazawa also met a day earlier for about two hours, the Japanese minister said he held separate talks of approximately similar length addressing three major areas -- trade, nontariff barriers and economic security.
Akazawa declined to reveal details of the negotiations, including which issues had seen progress.
However, Akazawa, as he has done consistently in the ongoing talks, said he had reiterated Tokyo's position that the Trump administration's additional tariffs must be removed as quickly as possible, as the measures are having a serious impact on the Japanese economy.
Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump plan to hold a meeting around the time of the three-day Group of Seven summit in Canada, which starts on June 15.
Akazawa, who arrived in the U.S. capital on Thursday for the third straight week and a fifth round of ministerial tariff talks, said the leaders will meet after hearing how far discussions have progressed.
Under Trump's so-called reciprocal tariff regime, announced April 2, almost all countries in the world have been hit by a baseline duty of 10 percent, with Japan facing an additional country-specific tariff of 14 percent for a total rate of 24 percent.
Along with other countries, Japan has also been affected by the Trump administration's extra 25 percent tariff on automobiles and other sector-based levies implemented on national security grounds.
Japan has presented a package of proposals to the United States since the first round of their ministerial talks in mid-April.
The package includes joint efforts to strengthen supply chains for semiconductors and critical minerals, cooperation in shipbuilding, expanding imports of U.S. farm products to Japan, and simplification of its safety and environmental requirements for foreign-made cars.
Japan does not impose tariffs on imported cars, trucks or buses. The Trump administration has claimed, however, that American automakers' limited penetration into Japan's market is due to nontariff barriers, such as nonacceptance of certain U.S. standards.
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