U.S. inflation rises in June as tariffs begin to bite
U.S. consumer prices rose at their fastest pace in five months in June, signaling the early impact of tariffs on inflation. However, subdued demand an...
U.S. President Donald Trump will personally attend a key meeting with Japanese trade officials on Wednesday, signaling his direct involvement in negotiations stemming from his recent wave of tariffs on global imports.
The move highlights Trump's hands-on approach to trade talks with Japan, one of the first countries to engage in face-to-face discussions since his administration imposed sweeping duties on dozens of nations.
Tokyo's economic revitalization minister, Ryosei Akazawa, had been sent to Washington to initiate discussions with U.S. Treasury Secretary Scott Bessent. Initially, the focus of the talks was expected to remain on trade and investment matters. However, Trump surprised officials by announcing that he would also join the session to address broader issues, including the financial burden Japan bears in hosting U.S. military forces, which is the largest overseas military deployment by the United States.
In a post on Truth Social, Trump stated: “Japan is coming in today to negotiate tariffs, the cost of military support, and ‘trade fairness.’ I will attend the meeting, along with Treasury & Commerce Secretaries. Hopefully, something can be worked out which is good (GREAT!) for Japan and the USA!”
Japan, which has faced 24% levies on its exports to the U.S. under Trump's tariffs—though those duties have been paused for 90 days—continues to contend with a 10% universal rate and a 25% tariff on cars, a major sector of its export economy. Bessent also intends to address concerns over exchange rates, an issue that has long been contentious between the two countries.
Prime Minister Shigeru Ishiba, speaking ahead of the meeting, emphasized that Japan would not rush to make concessions and has ruled out countermeasures to U.S. tariffs. He noted the challenging position Japan finds itself in, as the U.S. has leveraged significant power through its tariff policies.
“The difficulty for the Japanese team is that the United States has created a huge amount of leverage for itself, unilaterally,” said Kurt Tong, managing partner at The Asia Group, a Washington-based consultancy. “The U.S. is offering to not hit Japan with sticks, and Japan is stuck in a position of offering a whole lot of carrots. And from their perspective, it feels like economic coercion.”
The Trump administration has long criticized Japan’s trade practices and alleged currency manipulation to gain an unfair advantage, though Tokyo denies these claims.
Beyond tariffs and trade barriers, Japan is also expected to discuss potential investment opportunities, including its involvement in a multi-billion dollar gas project in Alaska, which could play a significant role in strengthening U.S.-Japan economic ties.
As the tariff talks unfold, Japan hopes that commitments to increased investment in the U.S. will persuade the Trump administration that both countries can reach a “win-win” outcome without the need for punitive tariffs. Akazawa expressed optimism before departing for Washington, signaling that Japan is eager to find a balanced solution that benefits both sides.
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