Japan is contemplating offering concessions in the form of increased soybean and rice imports as part of ongoing trade negotiations with the United States, according to a report by the Yomiuri daily on Saturday.
This move comes as Japan seeks to address U.S. demands during President Donald Trump’s aggressive tariff campaign, which has raised concerns about potential recession risks.
During the first round of bilateral talks on Wednesday, U.S. negotiators brought up trade barriers in sectors such as automobiles and rice, and requested that Japan import more U.S. goods, including meat, fish products, and potatoes, the report said. The Japanese government has not yet commented on the report.
In response to Trump's trade policies, Japan has faced 24% tariffs on exports to the U.S., with the rates paused for 90 days, but a 10% universal tariff and a 25% duty on cars remain in effect. Japan, which heavily relies on car exports, has sought to reduce the impact of these levies, which have disrupted market stability.
Trump has criticized Japan for its alleged 700% tariff on rice, a claim that Japan disputes, citing outdated international rice pricing. Despite these tensions, Japan has been steadily increasing its rice imports over the past year to address domestic shortages caused by rising prices.
Japan’s economic revitalization minister, Ryosei Akazawa, engaged in discussions with U.S. officials in the Oval Office following the talks, although specific details of the discussions remain scarce. Finance Minister Katsunobu Kato is expected to continue bilateral discussions with U.S. Treasury Secretary Scott Bessent in Washington next week, focusing on further trade concerns and priorities.
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China has agreed to send its top economic official for rare trade talks with the U.S. in Geneva, as deepening economic troubles and geopolitical frictions force Beijing back to the negotiating table.
The United States, along with its European allies, is finalizing a proposal for a 30-day ceasefire in Ukraine, with a strong warning that new sanctions will be imposed on Russia if the truce is not honored, according to a French diplomatic source on Friday.
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U.S. President Donald Trump had a "very good and productive" phone call with Ukrainian President Volodymyr Zelenskiyy on Thursday, according to the White House.
Prime Minister Keir Starmer is set to unveil fresh sanctions targeting up to 100 Russian oil tankers used to evade international restrictions, in a bid to cut off funding for Vladimir Putin's war in Ukraine.
Iranian Foreign Minister Abbas Araghchi said on Friday the Israeli Prime Minister Benjamin Nethanyau is trying out of “utter desperation” to disrupt the current indirect nuclear negotiations process between Iran and the United States.
China has agreed to send its top economic official for rare trade talks with the U.S. in Geneva, as deepening economic troubles and geopolitical frictions force Beijing back to the negotiating table.
The United States, along with its European allies, is finalizing a proposal for a 30-day ceasefire in Ukraine, with a strong warning that new sanctions will be imposed on Russia if the truce is not honored, according to a French diplomatic source on Friday.
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