a day ago
Akazawa sees a deal with U.S. sparing Japan from higher car levies
Japan's top trade negotiator expects a trade deal with the United States to spare Tokyo from higher auto tariffs, even if U.S. President Donald Trump decides to increase them against other nations.
"We are in bilateral negotiations with the U.S.,' Ryosei Akazawa said Friday as he left for Washington for his sixth round of trade talks with U.S. counterparts. "Generally speaking, if we reach a deal it should secure special treatment for Japan, and exclude it from rules that apply to most countries.'
Akazawa made the remarks after being asked about Trump's comments that indicated he's considering raising tariffs on imported cars further to boost production in the U.S. Akazawa also said he was aware that U.S. Treasury Secretary Scott Bessent has signaled a possible extension of the July 9 deadline to return across-the-board tariffs to original rates, which would mean a bump to 24% from 10% for Japan.
Akazawa heads to the U.S. as the two nations eye a potential trade deal out of an expected summit in Canada between Trump and Prime Minister Shigeru Ishiba. The two are expected to meet on the sidelines of the Group of Seven leaders' gathering starting Sunday.
A 25% tariff on cars and car parts threatens to push the Japanese economy into a technical recession with a hit to the nation's most important exports, just as Ishiba prepares for a national election in July. The U.S. has also recently doubled a levy on steel and aluminum to 50%.
Akazawa said Japan will continue to seek a review of all U.S. tariffs and aim for a package of agreements.
