Latest news with #WorldJapan
Kyodo News
3 hours ago
- Business
- Kyodo News
Japan, U.S. eye Ishiba-Trump summit in Canada on G7 margins
KYODO NEWS - 6 hours ago - 14:20 | All, World Japan and the United States plan to hold summit talks between Prime Minister Shigeru Ishiba and President Donald Trump in Canada on the sidelines of the Group of Seven leaders' meeting in mid-June, sources familiar with the matter said Tuesday. Before the three-day G7 gathering from Sunday, Japan's chief tariff negotiator Ryosei Akazawa is expected to visit Washington for the sixth round of ministerial-level negotiations on the Trump tariffs, to take place on Friday, setting the stage for the meeting between their two countries' leaders, according to the sources. The Japanese government had another option for Ishiba to travel to the United States before the G7 summit in Kananaskis, and meet in person with Trump, depending on progress on negotiations at the ministerial level. But the past rounds of negotiations failed to resolve differences between the two nations and Akazawa, who is a close aide to Ishiba, aims to continue with his efforts to bridge the gap over Trump's tariff policy. Akazawa will head to Canada following the ministerial meeting to continue communicating with Ishiba until the last minute. The minister for economic revitalization will return to Japan on June 18, according to the sources. Japan has demanded that the Trump administration remove its tariffs on cars, steel and aluminum, along with a 10 percent baseline levy as part of what is called a "reciprocal" tariff. It is also opposed to the 14 percent country-specific portion of the reciprocal tariff, which has been suspended for 90 days from early April as negotiations continue. But Tokyo has begun to consider whether it will accept reduced tariff rates as the United States has consistently refused to eliminate the duties, according to sources with knowledge of the talks. Japan and the United States are aiming to reach a deal at the earliest possible time. Ishiba has repeatedly underscored the need for the longtime allies to focus on boosting investment and creating jobs in the United States. Trump is seeking to reduce his country's massive trade deficit with Japan. Related coverage: Japan's top negotiator eyes U.S. trip this week for 6th tariff talks U.S., China hold high-level trade talks with rare earths in focus
Kyodo News
9 hours ago
- Business
- Kyodo News
Japan, U.S. eye Ishiba-Trump summit in Canada on G7 margins
KYODO NEWS - 8 minutes ago - 14:20 | All, World Japan and the United States plan to hold summit talks between Prime Minister Shigeru Ishiba and President Donald Trump in Canada on the sidelines of the Group of Seven leaders' meeting in mid-June, sources familiar with the matter said Tuesday. Before the three-day G7 gathering from Sunday, Japan's chief tariff negotiator Ryosei Akazawa is expected to visit Washington for the sixth round of ministerial-level negotiations on the Trump tariffs, to take place on Friday, setting the stage for the meeting between their two countries' leaders, according to the sources. The Japanese government had another option for Ishiba to travel to the United States before the G7 summit in Kananaskis, and meet in person with Trump, depending on progress on negotiations at the ministerial level. But the past rounds of negotiations failed to resolve differences between the two nations and Akazawa, who is a close aide to Ishiba, aims to continue with his efforts to bridge the gap over Trump's tariff policy. Akazawa will head to Canada following the ministerial meeting to continue communicating with Ishiba until the last minute. The minister for economic revitalization will return to Japan on June 18, according to the sources. Japan has demanded that the Trump administration remove its tariffs on cars, steel and aluminum, along with a 10 percent baseline levy as part of what is called a "reciprocal" tariff. It is also opposed to the 14 percent country-specific portion of the reciprocal tariff, which has been suspended for 90 days from early April as negotiations continue. But Tokyo has begun to consider whether it will accept reduced tariff rates as the United States has consistently refused to eliminate the duties, according to sources with knowledge of the talks. Japan and the United States are aiming to reach a deal at the earliest possible time. Ishiba has repeatedly underscored the need for the longtime allies to focus on boosting investment and creating jobs in the United States. Trump is seeking to reduce his country's massive trade deficit with Japan. Related coverage: Japan's top negotiator eyes U.S. trip this week for 6th tariff talks U.S., China hold high-level trade talks with rare earths in focus
Kyodo News
3 days ago
- Business
- Kyodo News
Japan, U.S. yet to find common ground on tariffs but want quick deal
By Takuya Karube, KYODO NEWS - 2 hours 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. Related coverage: Japan calls for tariff rethink in talks with U.S. commerce chief Trump's steel tariff hike not raised in Japan-U.S. talks: negotiator Japan, U.S. agree tariff talks making progress toward deal
Kyodo News
3 days ago
- Business
- Kyodo News
Japan, U.S. yet to find common ground on tariffs but want quick deal
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. Related coverage: Japan calls for tariff rethink in talks with U.S. commerce chief Trump's steel tariff hike not raised in Japan-U.S. talks: negotiator Japan, U.S. agree tariff talks making progress toward deal
Kyodo News
4 days ago
- Business
- Kyodo News
Japan, U.S. yet to find middle ground on tariffs but want quick deal
KYODO NEWS - 14 minutes ago - 10:00 | All, Japan, World Japan and the United States have yet to find common ground on tariff issues but still aim to strike a deal of some sort in mid-June, Japan's chief tariff negotiator said Friday. After holding talks with U.S. Treasury Secretary Scott Bessent and U.S. Commerce Secretary Howard Lutnick in Washington, Ryosei Akazawa, Japan's minister for economic revitalization, told reporters that he believes "further progress" was made. Akazawa said no decision has been made on whether there will be another round of tariff talks next week or beyond. Akazawa and Bessent, as well as Lutnick, whom the Japanese minister also met a day earlier, sat down to explore whether it may be feasible for the countries' leaders to reach a trade agreement during their meeting in about 10 days. Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump plan to hold talks around the time of the three-day Group of Seven summit in Canada, which starts on June 15. Akazawa, who is visiting the U.S. capital for the third straight week for a fifth round of ministerial-level tariff talks, has repeatedly said Japan will not accept a deal unless it benefits both countries. On Thursday, Akazawa and Lutnick discussed "in detail" cooperation in three major areas -- trade, nontariff barriers and economic security -- during their 110-minute meeting, according to the Japanese government. The government added that Akazawa, as he has done consistently in the talks, reiterated Japan's position that the Trump administration's additional tariffs must be removed. 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 U.S. Cabinet members in the ongoing negotiations. 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 Japan's safety and environmental requirements for foreign-made cars. Japan does not impose tariffs on imported cars, trucks or buses. However, the Trump administration has claimed American automakers' limited penetration into Japan's market is due to nontariff barriers, such as nonacceptance of certain U.S. standards. Related coverage: Japan calls for tariff rethink in talks with U.S. commerce chief Trump's steel tariff hike not raised in Japan-U.S. talks: negotiator Japan, U.S. agree tariff talks making progress toward deal
