Latest news with #MasakiOgushi
Japan Times
14-05-2025
- Business
- Japan Times
Japan's key trade officials to skip APEC meet attended by Greer
Trade Minister Yoji Muto will skip a gathering of trade chiefs this week, a decision that will likely lower Tokyo's chances of securing an opportunity for bilateral talks with U.S. Trade Representative Jamieson Greer. Top trade official Ryosei Akazawa, who leads Japan's tariff task force, also won't attend the APEC meeting. Instead, state trade minister Masaki Ogushi will represent Japan at the meeting of Asia-Pacific Economic Cooperation in Jeju, South Korea on May 15-16, according to the Ministry of Economy, Trade and Industry. Ogushi serves on Akazawa's team. State foreign minister Takuma Miyaji will also attend the gathering. This won't be the first time Japan's trade minister will miss the APEC gathering in recent years, but sending a lower-ranking official may make it harder to hold one-on-one talks with Greer. Other nations are expected to vie for time with Greer, who is set to travel to South Korea after he took part in trade talks with China in Switzerland that resulted in a temporary cut in tariffs. The U.K. became the first nation to strike a trade deal with the U.S., while Japan was among the first nations to start talks. Failure to secure a deal could add to pressure on Prime Minister Shigeru Ishiba ahead of a national election this summer. Stay updated on the trade wars. Quality journalism is more crucial than ever. Help us get the story right. For a limited time, we're offering a discounted subscription plan. Unlimited access US$30 US$18 /mo FOREVER subscribe NOW "There is a sense that Japan is being left behind, which could put it at a disadvantage in negotiations,' said Hideo Kumano, economist at Dai-Ichi Life Research Institute. "Japan will try not to rush into an agreement that leaves high tariffs in place. If it does so, it will be used as ammunition by the opposition ahead of the election.' Japan is hoping to reach a trade agreement with the U.S. in June as it continues to seek a reprieve on tariffs on its shipments of products including autos and car parts. Local media reports indicate the agreement is more likely to be reached in July, when the national election is expected to take place. Concessions on auto tariffs are a key goal for Japan, as industries related to the auto sector employ about 8% of the country's workforce. Auto-related items accounted for around a third of Japan's exports to the U.S. in 2024.
Bloomberg
14-05-2025
- Business
- Bloomberg
Japan's Key Trade Officials to Skip APEC Meet Attended by Greer
Japan's Trade Minister Yoji Muto will skip a gathering of trade chiefs this week, a decision that will likely lower Tokyo's chances of securing an opportunity for bilateral talks with US Trade Representative Jamieson Greer. Top trade official Ryosei Akazawa, who leads Japan's tariff task force, also won't attend the APEC meeting. Instead, state trade minister Masaki Ogushi will represent Japan at the meeting of Asia-Pacific Economic Cooperation in Jeju, South Korea on May 15-16, according to the Ministry of Economy, Trade and Industry. Ogushi serves on Akazawa's team. State foreign minister Takuma Miyaji will also attend the gathering.
