US·Japan, Aim for early conclusion in tariff negotiations…Trump "Japan is the priority"

16th (Local Time) Minister Of Economic Revitalization Akazawa Visiting The United States (Source: AFP)

The United States and Japan held their first bilateral tariff discussion and agreed to reach an agreement that could be announced between leaders as soon as possible. This discussion took place as President Donald Trump mentioned Japan as a priority in negotiations, and both sides plan to continue with the next negotiation later this month.

Japan's negotiation representative, Minister Of Economic Revitalization Ryosei Akazawa, met with President Trump for 50 minutes on the 17th (local time) in Washington DC, and had a 75-minute practical negotiation with Scott Besant, U.S. Secretary Of The Treasury, and Jameson Greer, U.S. Trade Representative (USTR). After meeting with reporters, Akazawa stated, "Both sides agreed to engage in discussions with a candid and constructive attitude, and there was a consensus to expedite results so that they can be announced by leaders."

This negotiation was conducted while the U.S. imposed a high tariff of 25% on steel and automobiles, and announced a 24% reciprocal tariff on Japan. The U.S. has set a 90-day grace period on this measure. The Japanese side emphasized during the negotiation process that such tariff measures negatively impact domestic industry and investment and employment between the two countries, and requested a reassessment of tariffs.

Minister Akazawa stated, "The U.S. tariff measures are very regrettable," and "The Japanese government is fully committed to the negotiations." Additionally, currency issues were not mentioned during this meeting, and he did not specify whether security-related matters were discussed.

After his meeting with Minister Akazawa, President Trump posted on his social media account that “It was a great honor to finish a meeting with the Japanese delegation. Big progress was made.” Minister Akazawa also emphasized that "President Trump mentioned 'consultation with Japan is the top priority,'" and that negotiations were conducted without a coercive attitude.

This U.S.-Japan negotiation is being noted as it was conducted ahead of South Korea's first U.S. tariff negotiations, making it an important reference point for future U.S.-South Korea discussions. The South Korean government plans to conduct negotiations with the U.S. side centered around Vice Minister Of Economy And Finance Choi Sang-Mok next week.