Japan commerce negotiator Akazawa says he made progress in U.S. tariff talks

Japan had made some progress in a fifth spherical of commerce talks with U.S. officers geared toward ending tariffs which can be hurting Japan’s economic system, Tokyo’s chief tariff negotiator stated.

“Tariffs have already been imposed on autos, auto components, metal and aluminum, and a few of them have doubled to 50% together with 10% common tariff. These are inflicting day by day losses to Japan’s economic system,” Ryosei Akazawa, stated in Washington on Friday after talks with officers, together with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.

Akazawa declined to say what progress that they had made.

The most recent spherical of talks often is the final in-person assembly between senior Japanese and U.S. officers earlier than the Group of Seven (G7) leaders summit that begins on June 15, the place U.S. President Donald Trump is predicted to fulfill Japanese Prime Minister Shigeru Ishiba.

Japan additionally faces a 24% tariff fee beginning in July until it may well negotiate a cope with Washington.

“We wish an settlement as quickly as doable. The G7 summit is on our radar, and if our leaders meet, we need to present what progress has been made,” Akazawa stated. “Nonetheless we should stability urgency with a necessity to protect our nationwide pursuits,” he added.

Final month Japan’s commerce negotiator stated U.S. defence gear purchases, shipbuilding expertise collaboration, a revision of car import requirements and a rise in agricultural imports could possibly be bargaining chips in tariff talks.

In a bid to achieve an settlement with the U.S., Japan can also be proposing a mechanism to cut back the auto tariff fee based mostly on how a lot nations contribute to the U.S. auto business, the Asahi newspaper reported on Friday.

Akazawa stated Japan’s place has not modified and that the tariffs aren’t acceptable.