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Yomiuri Shimbun
8 hours ago
- Automotive
- Yomiuri Shimbun
Japan-U.S. Summit: How Will Tokyo Rebuild Tariff Negotiations?
Prime Minister Shigeru Ishiba has held direct talks with U.S. President Donald Trump to persuade the president to review his high tariff policy, but the prime minister was unable to change his mind. It is necessary to reaffirm that the bottom line is protecting national interests and to rebuild the negotiations. Ishiba met with Trump on the sidelines of the Group of Seven summit in Canada and discussed the review of the high tariff measures of the United States. After the meeting, the prime minister said, 'Points that the two sides cannot find common ground on still remain,' explaining that no agreement had been reached. The prime minister said the two leaders agreed to continue negotiations among their ministers. A key point that emerged during the bilateral summit was Trump's strong commitment to automobile tariffs. Trump has made the revival of the manufacturing industry his most important political issue. Automobiles, along with steel, are symbols of U.S. manufacturing. The U.S. president is seeking to bring production and jobs back to the United States by imposing additional tariffs of 25% on automobiles and 50% on steel and aluminum products. The Japanese side had positioned the Ishiba-Trump meeting as a major turning point in the tariff negotiations. It is necessary for Japan to reexamine whether it sufficiently understood Trump's true intentions. For Japan, the auto industry, including related companies, is the backbone of the economy, supporting about 5.5 million jobs. The auto industry accounts for about 30% of Japan's exports to the United States, with annual exports reaching about 1.4 million vehicles. Reaching a comprehensive agreement that includes a reduction in automobile tariffs is a point on which Japan cannot compromise. The upcoming ministerial talks, which will reset the negotiations, will likely not be easy. Nippon Steel Corp.'s acquisition plan of U.S. Steel Corp. was settled last week. This can serve as a model case in which Japanese investment can help revitalize the U.S. steel industry and create jobs. Japan should continue to explain the significance of possible benefits to be brought by investment in the automobile industry to lead to a resolution of the tariff issue. For the United States, taking measures against China, a military and economic power that is increasing its hegemonic moves, are a serious challenge. China, which repeatedly resorts to economic coercion, is also using restrictions on exports of rare earths as a weapon. Rare earths are essential for high-tech products such as electric vehicles and military equipment, and Japan has strengths in processing and smelting technologies of rare earths. By providing technological assistance on rare earths to the United States, Japan should aim to strengthen the supply chain for rare earths and deepen cooperative relations with the United States regarding policies toward China. The tense situation in the Middle East, with the escalating conflict between Israel and Iran, has further complicated the international landscape. Under these circumstances, it has become more significant to strengthen the alliance by promoting cooperation between Japan and the United States in a wide range of fields. In the tariff negotiations, it is crucial to repeatedly reaffirm this understanding. (From The Yomiuri Shimbun, June 18, 2025)
Yahoo
09-05-2025
- Business
- Yahoo
U.S. Steel requests two-year reprieve from some emissions controls
U.S. Steel Corp. is asking for a two-year presidential exemption from three U.S. Environmental Protection Agency air pollution emissions standards. The request from the Pittsburgh-based steelmaker would be over the implementation of three separate provisions of Section 112 of the Clean Air Act that had been set under the Biden administration and are being reconsidered by the Trump administration. They are the Integrated Iron and Steel Maximum Allowable Control Technology (MACT) Rule, the Taconite MACT Rule and the Coke MACT rule, according to the company's quarterly financial filing with the U.S. Securities and Exchange Commission. A provision of the Clean Air Act allows the president to exempt for up to two years (and renewable) if there is not affordable or available technology to put the emissions controls in place or if the company can prove a national security issue. Each of the three requested exemptions have to be approved by President Donald J. Trump. Click here to read more from our partners at the Pittsburgh Business Times. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
