Latest news with #Akazawa
Yomiuri Shimbun
4 hours ago
- Automotive
- Yomiuri Shimbun
Trump Agreed to Tariff Deal With Japan After 70-Minute Talks; U.S. President Tried to Trade Concessions for 1% Reductions
There was just about one week remaining until the Aug. 1 deadline when Japan and the United States reached a 15% tariff deal. Tokyo had managed to avoid the worst-case scenario of U.S. President Donald Trump's administration levying duties of 25% from next month. Japan succeeded in lowering not only what Trump calls 'reciprocal tariffs,' imposed on dozens of countries including Japan, but also the automobile tariff that was a top priority for this nation. Patience Economic revitalization minister Ryosei Akazawa faced off against Trump at the White House on Tuesday. The talks had been arranged just the previous day and represented the first such meeting since April. U.S. Treasury Secretary Scott Bessent and U.S. Secretary of State Marco Rubio were also present. According to sources involved in the negotiations, the U.S. side made detailed demands — asking Japan, for example, to provide a certain item in return for lowering tariffs by 1%, and to increase rice imports and boost investment and support for semiconductors. Trump was said to have pushed for a deal in which he would lower tariffs by 1% in exchange for each concession. 'Mr. Trump made demands, citing specific figures. It felt like we needed at least 10 people to handle it,' one source said. In response, Akazawa patiently persuaded Trump, using various bargaining chips. After about 70 minutes of talks, Trump finally agreed, stood up and asked Akazawa for a handshake. 'Automobiles are Japan's bedrock' In the negotiations that began in April, Akazawa prioritized the revision of a proposed automobile tariff. In their first face-off at the Oval Office, Trump threatened Akazawa, saying steel was the bedrock of America, and Akazawa riposted with 'Automobiles are the bedrock of Japan.' As negotiations progressed, the Japanese side concluded that it was impossible to get the United States to withdraw its demands and shifted its goal to a reduction. The United States and the United Kingdom reached an agreement on May 8 in which the U.S. levy on British vehicles was dropped to 10% in exchange for British carmakers being limited to exporting 100,000 cars a year to the United States. Japan has a bitter history of voluntarily restricting its automobile exports to the United States in response to trade friction in the 1970s. Focusing on avoiding a limit on the quantity of its auto exports, Japan gradually lowered its goal, believing that 'if the United Kingdom was hit with 10%, it will be hard for Japan to get a 10% tariff,' according to a Japanese government official. The negotiations made significant progress in mid-May, according to Japanese government officials. The Japanese side presented investment plans in nine areas, including automobiles, iron and important minerals and also proposed the integration of supply chains. U.S. Commerce Secretary Howard Lutnick and others praised the proposals, and an agreement was reached between the ministers at the end of May. Before the Japan-U.S. summit in June, Prime Minister Shigeru Ishiba told those around him that 'negotiations are 90% complete.' However, Trump was not satisfied with the plans and increased pressure on Japan, saying Japan was 'very tough' and 'so spoiled.' He hinted at raising tariffs to 30%-35%. Mission accomplished Nevertheless, Japan did not change its proposals. Instead, it changed the way it prepared documents and explained them in order to gain Trump's understanding. Lutnick, meanwhile, explained the proposals to Trump nearly 10 times, and the green light was given for an agreement in the middle of July. The day before Tuesday's meeting, Lutnick invited Akazawa to his home to rehearse the meeting. After the meeting with Trump, Akazawa posted on X 'Mission accomplished.' A senior government official recalled: 'Only Trump has the authority to make the final decision on the numbers. Some countries have had their decisions overturned at the last minute. We could not let our guard down at all.'
Asahi Shimbun
2 days ago
- Business
- Asahi Shimbun
Akazawa denies election defeat will impact U.S. tariff talks
Japan's chief trade negotiator with the United States, Ryosei Akazawa, speaks to reporters on July 21 in Washington. (Ken Sakakibara) WASHINGTON—Japan's chief trade negotiator with the United States has dismissed concerns that his government's latest electoral setback would weaken Tokyo's position in ongoing tariff negotiations with Washington. Speaking to reporters here on July 21 during his eighth visit for the trade talks, Ryosei Akazawa emphasized the importance of national interest over domestic political outcomes. 'This is a negotiation about our national interest,' Akazawa said. 'Whether we win or lose an election is fundamentally unrelated to this process.' His remarks follow Japan's Upper House election on July 20, in which the ruling coalition led by his Liberal Democratic Party lost its majority. The development raised questions about the administration's political leverage in critical international negotiations. Akazawa is expected to hold talks with U.S. Treasury Secretary Scott Bessent. The bilateral talks have intensified ahead of an Aug. 1 deadline set by President Donald Trump, who has announced plans to impose a 25 percent tariff on Japanese goods if no agreement is reached. Akazawa signaled optimism, stating that both sides share a mutual desire to strike a deal before the deadline. 'There is a strong will on both the Japanese and American sides to come to some form of agreement,' he said. Bessent, appearing earlier on CNBC, sidestepped questions about whether the Japanese election results would impact trade negotiations. 'Our priorities are not the internal workings of the Japanese government,' he said. 'Our priorities are getting the best deal for the American people.' Akazawa kept his tone diplomatic in responding to Bessent's comments. 'He is, after all, a Cabinet member of the 'America First' Trump administration,' he noted. 'It's only natural that he would say that.' 'We aim to find a common ground that protects the interests of both nations,' he added. Talks have stalled over Japan's request for the reduction of tariffs on automobile exports, a sector that has long been a source of tension in U.S.-Japan trade relations. Trump has repeatedly called the current trade balance unfair, in particular regarding cars and agricultural products.
Yomiuri Shimbun
2 days ago
- Business
- Yomiuri Shimbun
Akazawa Downplays Election's Impact on Tariff Talks;Bessent Denies Interest in Japan's ‘Internal Workings'
With the approach of an Aug. 1 deadline after which the U.S. government says it will impose 25% tariffs on imports from Japan, economic revitalization minister Ryosei Akazawa arrived in the U.S. for ministerial talks on tariffs and met with Commerce Secretary Howard Lutnick on Monday in Washington D.C. According to the Japanese government, the two held a 'very candid and in-depth discussion, once again.' It was Akazawa's eighth visit to the U.S. for the series of tariff negotiations. Efforts were also being made to hold a meeting with U.S. Treasury Secretary Scott Bessent, the chief U.S. negotiator for the talks and Akazawa's counterpart. Speaking with reporters upon his arrival at an airport in the suburbs of Washington, Akazawa had downplayed the possible impact of the House of Councillors election results on the prospect of tariff negotiations by saying that 'Basically, it doesn't matter [for the negotiations] whether the ruling parties win or lose in the election.' He added, 'Both sides [Japan and the United States] hope to reach some sort of agreement,' showing his intention to continue negotiations. Meanwhile, in a CNBC interview on Monday, Bessent commented: 'Our priorities are not the internal workings of the Japanese government. Our priorities are getting the best deal for the American people.' Asked about the remarks, Akazawa responded 'Bessent is a Cabinet member in the Trump administration, which advocates 'America First,' so it is only natural he said that.' U.S. President Donald Trump announced the 25% tariffs to be imposed on Aug. 1. Japan and the United States have been trying to reach an agreement, but the negotiations are facing difficulties.
Kyodo News
3 days ago
- Business
- Kyodo News
Despite election loss, Japan says seeking U.S. trade deal by Aug. 1
WASHINGTON - 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 failure of Japan's ruling coalition to retain majority control in Sunday's upper house election would 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. However, U.S. Treasury Secretary Scott Bessent, who has played a pivotal role in tariff negotiations, said in a CNBC interview that the Trump administration is "more concerned with high quality deals." "We're not going to rush for the sake of doing deals," Bessent said. 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 House of Councillors election, in which Japanese Prime Minister Shigeru Ishiba's ruling coalition lost control of the upper house. The outcome, resulting from the Japanese public's frustration over rising living costs, left the coalition led by his Liberal Democratic Party without control of both chambers of parliament, following its failure 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 Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer if their respective schedules allow. In the interview aired before Akazawa's arrival, Bessent also 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 liquefied 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.
The Mainichi
3 days ago
- Business
- 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)
