Japan is preparing for a new round of trade discussions with the U.S. as both sides try to resolve differences before higher tariffs on Japanese automobile exports take effect in July.
Japan’s chief trade negotiator, Ryosei Akazawa, may visit Washington as early as next week for a third round of bilateral trade talks with the United States, according to two sources familiar with the matter. The timing of the visit remains flexible, depending on progress made during ongoing staff-level negotiations.
Finance Minister Katsunobu Kato is also scheduled to travel to Canada next week for a G7 finance ministers’ meeting. While there, he may hold discussions with U.S. Treasury Secretary Scott Bessent, including topics such as currency markets.
Japanese officials are reportedly exploring a package of proposals aimed at gaining concessions from the U.S. These could include increased imports of American corn and soybeans, expanded technical cooperation in shipbuilding, and potential revisions to vehicle inspection standards for imported cars.
A key issue for Japan remains securing exemptions from planned U.S. tariffs on automobiles and auto parts, a significant component of the country’s export sector. The U.S. government imposed a general 10% tariff on April 2, with Japan facing a specific 24% rate from July unless an agreement is reached.
“We will seek reviews of the range of U.S. tariff measures, such as those on automobiles, auto parts, steel, aluminium as well as the reciprocal tariffs,” Akazawa stated during a press briefing on Wednesday.
Japanese policymakers have said they are reluctant to conclude any trade agreement unless tariffs on automobiles are lifted. Industry concerns have already emerged, with Mazda reporting a 45.1% decline in net profit for the fiscal year ending in March and refraining from issuing forecasts for the upcoming year.
During a previous visit to Washington on May 1, Akazawa raised the auto tariff issue with Bessent, though no agreement was reached at that time.
Initial expectations of concluding a deal around the June G7 summit have waned. Domestic media reports suggest Prime Minister Shigeru Ishiba is now aiming for an agreement by early July, ahead of Japan’s upper house elections later in the month.
Political sensitivities, especially regarding agriculture, remain a factor. Senior ruling party member Hiroshi Moriyama, a close aide to the prime minister, has stated opposition to expanding imports of U.S. rice.
Some analysts suggest that the U.S. may not prioritise a swift agreement with Japan, as the broader economic impact of tariffs on Japan is seen as less significant compared to other trade partners.
Japan grounded nearly 200 T-4 military training aircraft on Wednesday following the crash of one of the planes minutes after takeoff.
Japanese children continue to struggle with mental health issues, ranking 32nd out of 43 developed and emerging countries, according to a new UNICEF report, despite notable improvements in education and strong physical health indicators.
A Self-Defence Force training aircraft from Japan crashed in central Japan shortly after takeoff, prompting an ongoing investigation by authorities.
Nissan Motor announced major cost-cutting measures, including the elimination of 11,000 additional jobs and reduced production, as the automaker faces declining profits and tough market conditions.
Japanese retailers Aeon and Sumitomo are set to significantly expand their operations in Vietnam, with plans to increase their presence and tap into the country's growing consumer market.
Japan is preparing for a new round of trade discussions with the U.S. as both sides try to resolve differences before higher tariffs on Japanese automobile exports take effect in July.
The killing of a young influencer has reignited public concern in Mexico, where violence against women remains a deeply rooted issue.
President Ilham Aliyev has arrived in Albania to take part in a key European summit, underscoring Azerbaijan’s engagement in continental political dialogue.
Pakistan’s Prime Minister Shehbaz Sharif has expressed willingness to engage in peace talks with India, following the de-escalation of the most serious military standoff between the two countries in nearly 30 years.
President Donald Trump stated that the U.S. is close to a nuclear agreement with Iran, though both sides remain divided on key conditions.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
EU approves 17th Russia sanctions, blacklisting almost 200 shadow‑fleet ships, 30 evasion firms and 75 defence figures, banning missile chemicals and arming Brussels to strike Kremlin hybrid and operations.
President Serdar Berdimuhamedov has authorized state corporations Turkmengaz and Turkmenneft to enter into agreements with PETRONAS Carigali Sdn. Bhd. (Malaysia) and ADNOC Turkmenistan RSC Limited (UAE), marking a significant step in enhancing country's energy sector
Adidas shareholders have reelected Chairman Thomas Rabe for another term, despite concerns from key investors over his multiple commitments and calls for leadership change.
Microsoft has announced 6,000 job cuts, representing nearly 3% of its workforce, as part of a strategy to streamline operations and prioritize investments in artificial intelligence.
Burberry, the iconic British luxury brand, has announced global job cuts and revealed a better-than-expected profit as part of its turnaround strategy under CEO Joshua Schulman.
Nissan Motor announced major cost-cutting measures, including the elimination of 11,000 additional jobs and reduced production, as the automaker faces declining profits and tough market conditions.
Japan is preparing for a new round of trade discussions with the U.S. as both sides try to resolve differences before higher tariffs on Japanese automobile exports take effect in July.
The killing of a young influencer has reignited public concern in Mexico, where violence against women remains a deeply rooted issue.
President Ilham Aliyev has arrived in Albania to take part in a key European summit, underscoring Azerbaijan’s engagement in continental political dialogue.
Pakistan’s Prime Minister Shehbaz Sharif has expressed willingness to engage in peace talks with India, following the de-escalation of the most serious military standoff between the two countries in nearly 30 years.
President Donald Trump stated that the U.S. is close to a nuclear agreement with Iran, though both sides remain divided on key conditions.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment