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 elements, metal and aluminum, and a few of them have doubled to 50% together with 10% normal tariff. These are inflicting each 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 newest spherical of talks could be 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 anticipated to fulfill Japanese Prime Minister Shigeru Ishiba.

Japan additionally faces a 24% tariff charge beginning in July except it could negotiate a take care of Washington.

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

Final month Japan’s commerce negotiator stated U.S. defence gear purchases, shipbuilding know-how collaboration, a revision of vehicle import requirements and a rise in agricultural imports might be bargaining chips in tariff talks.

In a bid to succeed in an settlement with the U.S., Japan can also be proposing a mechanism to scale back the auto tariff charge based mostly on how a lot nations contribute to the U.S. auto trade, the Asahi newspaper reported on Friday.

Akazawa stated Japan’s place has not modified and that the tariffs will not be acceptable.