Japan’s top tariff negotiator seeks trade deal with US
(MENAFN) Japan’s lead trade negotiator expressed confidence in securing a deal with the United States to avoid the imposition of reciprocal tariffs scheduled to begin on August 1, according to reports.
Speaking to reporters Monday at an airport near Washington, DC, Ryosei Akazawa dismissed concerns that Japan’s recent election results — which saw the ruling coalition lose its majority in the upper house — would hinder trade discussions. “I don’t have (such a concern),” he stated. “I believe that both Japan and the United States have a desire to reach some kind of agreement by then.”
Akazawa is currently in Washington for the eighth round of trade negotiations. His visit comes a day after Japan’s elections, which saw Prime Minister Shigeru Ishiba’s coalition lose its control of the upper house. Despite the political shift, Akazawa indicated that the Japanese delegation aims to meet with several high-ranking US officials, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer.
While Japan appears eager to finalize a deal ahead of the looming tariff deadline, Bessent noted in a recent interview that the US is prioritizing “high-quality deals” over quick agreements, stating, “we’re not going to rush for the sake of doing deals.” He also emphasized that the US is focused on securing the best terms for its citizens, rather than being influenced by Japan’s internal political landscape.
Meanwhile, Prime Minister Ishiba reaffirmed his commitment to remaining in office during a press conference in Tokyo. He underscored Japan’s role as a significant investor and job creator in the United States. "Therefore, or should I say precisely because of this, we have been saying investment rather than tariffs and making various efforts in a bid to gain the understanding (of the US)," Ishiba said.
The ongoing negotiations aim to prevent a 25% US tariff from being applied to Japanese exports — a move that could strain the longstanding economic relationship between the two countries.
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