Key points
- Japan tariff envoy will meet US Treasury secretary tomorrow
- He seeks to reach agreement after Trump imposes tariff on Japan
- Trump has announced “reciprocal” tariffs on Japan of 24pc
ISLAMABAD: Tokyo’s tariffs envoy departed Wednesday for a second round of negotiations in Washington, where Tokyo could offer concessions such as tweaking vehicle import procedures to secure relief from Donald Trump’s trade levies.
NHK reported that Economic Revitalization Minister Akazawa Ryosei took off from Tokyo’s Haneda Airport on Wednesday morning.
Akazawa is due to meet US Treasury Secretary Scott Bessent on Thursday. The talks are likely to focus on narrowing down topics for detailed discussion.
Ultimate goal
Speaking to reporters before his departure, Akazawa said: “My ultimate goal is to reach an agreement which benefits both Japan and the United States. I’m determined to move the discussions forward, even if only marginally.”
Japan, a key US ally and its biggest investor, is subject to the same 10 per cent baseline tariffs imposed on most nations plus steeper levies on cars, steel and aluminium, AFP reported.
Trump also announced “reciprocal” tariffs on Japan of 24 per cent, but later put them on pause for 90 days along with those on other countries except China.
Trump has repeatedly said he wants a stronger yen to make US exports more competitive, although Akazawa said the Japanese currency was not discussed at the first talks, according to AFP.
The yen has risen significantly since Trump’s tariffs were announced — it was trading at 142 for a dollar on Wednesday, compared with 158 in mid-January.
