Latest news with #RyoseiAkazawa
Yomiuri Shimbun
13 hours ago
- Business
- Yomiuri Shimbun
Japan, U.S. Share Understanding That Tariff Discussions Progressing Toward Agreement; Sides Will Coordinate for Leaders to Meet During G7 Summit
Pool photo From the right, Ryosei Akazawa, Japan's economic revitalization minister, U.S. Secretary of the Treasury Scott Bessent and U.S. Secretary of Commerce Howard Lutnick are seen in Washington on Friday. WASHINGTON — Japan and the United States shared a common understanding that their discussions are progressing toward an agreement during the fourth round of Japan-U.S. ministerial tariff negotiations in Washington on Friday. The two countries will accelerate the discussions, aiming for the two leaders to reach an agreement at the Group of Seven summit in Canada in mid-June. Ryosei Akazawa, Japan's economic revitalization minister and chief tariff negotiator, talked with U.S. Secretary of the Treasury Scott Bessent and U.S. Secretary of Commerce Howard Lutnick for about two hours and ten minutes. In the negotiations, the Japanese side demanded that the United States abolish the series of tariff measures it has put on goods, including additional tariffs on automobiles, steel and aluminum products. Meanwhile, the U.S. side asked for Japan to take measures such as expanding investment in the United States and cooperating on economic security. 'Mutual understanding is deepening,' Akazawa told reporters after the discussion. 'Japan and the United States were able to fully recognize each other's positions and confirm that the discussion is progressing toward an agreement. We will accelerate our coordination.' Japan and the United States are coordinating to hold talks between Japanese Prime Minister Shigeru Ishiba and U.S President Donald Trump to coincide with the G7 summit. Aiming for the two leaders to reach an agreement, the two governments also agreed to hold a ministerial-level meeting ahead of the G7 summit. Akazawa said the abolition of these tariffs is a precondition for an agreement. 'The Japanese automobile industry has been placed in position where it is losing ¥1 billion or ¥2 billion per day,' he said. 'I don't think it will work to leave any part of them in place.' During the most recent negotiations, participants are thought to have discussed cooperation to strengthen supply chains for rare earths and semiconductors, as well as expanding Japanese imports of American agricultural products and reviewing non-tariff barriers on importing automobiles.
Kyodo News
17 hours ago
- Business
- Kyodo News
Kyodo News Digest: May 30, 2025
KYODO NEWS - 14 hours ago - 23:00 | All, Japan, World The following is the latest list of selected news summaries by Kyodo News. ---------- China agrees to begin steps to resume Japanese seafood imports: Tokyo TOKYO - Japan's government said Friday that China has agreed to begin procedures to resume imports of Japanese seafood, lifting a ban imposed after the release of treated radioactive wastewater from the crippled Fukushima nuclear power plant into the sea. Chinese authorities are expected to issue a public notice easing the blanket ban that has been in place since August 2023 and soon open registration for Japanese facilities that process and preserve marine products, sources familiar with the matter said. ---------- Japan, U.S. tariff negotiators to hold another round of talks WASHINGTON - Japan's chief tariff negotiator, Ryosei Akazawa, will hold another round of talks on Friday with U.S. Treasury Secretary Scott Bessent as the two governments explore a possible agreement to be reached by their leaders next month. On the eve of the talks, Japanese Prime Minister Shigeru Ishiba spoke to U.S. President Donald Trump by phone, telling reporters afterward that each side was able to gain a better understanding of the views held by the other. ---------- Japan Diet begins debate on dual surname bill for 1st time in 28 yrs TOKYO - Japan's parliament on Friday began its first deliberations in 28 years on legislation that would give married couples the option of keeping different surnames. The passage of any of the three bills submitted separately by three opposition parties, however, looks unlikely during the current Diet session through late June, despite growing public acceptance of their push to change the longstanding rule requiring married couples to share a single family name. ---------- Report says N. Korea illegally gave 100 ballistic missiles to Russia SEOUL - North Korea provided Russia with at least 100 ballistic missiles last year in exchange for air defense systems and electronic jamming equipment, in clear violation of U.N. sanctions, the first report by an international monitoring body showed Thursday. The report by the Multilateral Sanctions Monitoring Team, led by Japan, the United States and South Korea, stressed that both countries are engaging in illegal arms transfers, urging the international community to strengthen monitoring and information-sharing efforts. ---------- Japan PM may attend NATO summit in late June in the Netherlands TOKYO - Prime Minister Shigeru Ishiba is considering attending a NATO summit meeting to be held in late June in the Netherlands, government sources said Friday, as Japan moves to demonstrate its closer ties with the trans-Atlantic defense alliance. If Ishiba attends, it will be the fourth straight year the sitting Japanese leader has done so. This year's gathering will be held on June 24 and 25 in The Hague. ---------- Japan's former Princess Mako gives birth to 1st child TOKYO - Mako Komuro, Crown Prince Fumihito's eldest daughter who married out of the imperial family, gave birth to her first child, the Imperial Household Agency said Friday. The 33-year-old mother and the child -- the first grandchild of the crown prince and the first great-grandchild of former Emperor Akihito -- are both in good health, a source close to the matter said. ---------- Japan, Bangladesh agree on defense equipment, tech transfer pact TOKYO - Japan and Bangladesh on Friday agreed in principle to conclude a pact for the transfer of defense equipment and technology, reiterating their commitment to stability in the Indo-Pacific region as China's influence grows, the Japanese government said. In a joint statement after talks in Tokyo, Prime Minister Shigeru Ishiba and Muhammad Yunus, chief adviser of Bangladesh's interim government, said they have instructed negotiators to speed up discussions on an economic partnership agreement. ---------- Japan eyes more rice exports as domestic consumption set to decline TOKYO - The Japanese government on Friday vowed to explore new overseas markets and provide support for more efficient production as part of efforts to increase rice exports in response to an envisioned long-term contraction in domestic consumption. In the annual white paper on food and agriculture for fiscal 2024 approved by the Cabinet, the Ministry of Agriculture, Forestry and Fisheries recommends increased rice exports despite the Japanese government recently introducing measures to curb soaring domestic prices, driven in part by shortages. Video: Japan Business Federation appoints new chief
17 hours ago
- Business
Japan-U.S. Tariff Talks Progressing toward Accord: Akazawa
News from Japan Society May 31, 2025 13:12 (JST) Washington, May 30 (Jiji Press)--Japan and the United States, in the fourth round of their tariff negotiations in Washington on Friday, confirmed that their discussions are progressing toward an agreement, Japan's top negotiator, Ryosei Akazawa, said the same day. Speaking to reporters after the talks, which lasted some two hours and 10 minutes, economic revitalization minister Akazawa also said the two sides confirmed that they are fully aware of each other's positions. Furthermore, the minister said participants in the day's meeting, including U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, agreed to hold another round of discussions ahead of the Group of Seven summit in Canada in mid-June. END [Copyright The Jiji Press, Ltd.] Jiji Press
Business Insider
19 hours ago
- Business
- Business Insider
U.S.-Japan Trade Talks End with No Deal
Japan Economic Minister Ryosei Akazawa has concluded his meeting with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The meeting, which lasted over two hours and marked the fourth round of talks, ended without the two sides reaching a trade deal. Confident Investing Starts Here: Still, the two countries agreed to meet again with the topics of semiconductor and rare earth trade in mind ahead of the Group of Seven (G7) Leaders' Summit in July, according to Nikkei Asia. Japan Seeks Reversal of All U.S. Tariffs After the meeting, Akazawa said that it would be difficult to form a trade deal unless the U.S. agrees to drop all of its tariffs, including the duties set on Japanese vehicles. President Trump had previously enacted a 25% tariff on imported cars and trucks from Japan before reducing the rate to 10% for 90 days. In 2024, Japan exported roughly $148 billion of goods to the U.S. with vehicles accounting for about 28% of that figure. The U.S.' goods trade deficit with Japan stands at $68.47 billion.
Japan Times
19 hours ago
- Business
- Japan Times
Japan says progress made in U.S. tariff talks
Japan's chief trade negotiator Ryosei Akazawa said progress was made toward reaching a deal during his fourth round of tariff talks with his American counterparts, but declined to provide specifics. He met with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick for over two hours Friday morning. It follows his U.S. trip last week , when Bessent was unable to attend. 'We confirmed that both sides have gained a solid understanding of each other's positions, and that discussions toward reaching an agreement are making progress,' Akazawa told reporters in Washington after Friday's meeting. He declined to comment in further detail. The two sides are eyeing the Group of Seven leaders' summit in June as a possible setting to announce a trade deal. Akazawa confirmed on Friday that there will be another round of talks before the summit. 'In preparation for a Japan-U.S. leaders' meeting during the June summit — we agreed to further accelerate coordination between our two countries and to hold another round of consultations before then,' he said. The pace of high-level exchanges between the two sides have increased since mid-May, with Akazawa traveling to Washington for two weeks in a row, and Prime Minister Shigeru Ishiba and Trump talking over the phone every time Akazawa is in the air. However, difficulties remain over reaching a deal as uncertainty looms . On Wednesday, the Court of International Trade in Manhattan ruled Trump's 'reciprocal' tariffs to be unlawful , arguing the president had exceeded his authority in invoking an emergency law to justify his tariff moves. However, a federal appellate court granted a temporary stay to the Trump administration on Thursday, allowing the tariffs to remain in place during the appeals process. Later on Friday, Trump announced during a visit to a United States Steel plant in Pittsburgh that he will raise tariffs on steel to 50% from the current 25% . Japan remains firm on its stance toward U.S. tariffs. Akazawa said Japan will continue to call on the U.S. to reverse the duties, including a 10% baseline tariff and 25% levies on autos, auto parts, steel and aluminum. It is not interested in partial concessions from the U.S. side at this time, he said. 'There are companies in Japan's auto industry that are losing ¥100 million per hour. Some are losing ¥1 billion per day, others as much as ¥2 billion per day. That is the situation the Japanese auto industry is facing,' Akazawa said. 'We do not, at this point of time, believe partial concessions are acceptable.'
