Sunday, June 1, 2025

US-Japan trade deal talks near conclusion, says President Trump

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President Trump stated Friday that US-Japan trade deal talks are “very close” to a final agreement. His comments came as new negotiations over American tariffs continue between the two nations.

Ryosei Akazawa, Japan’s lead negotiator, plans to visit Washington for three days starting Wednesday. During this visit, Akazawa will push American officials to reconsider tariffs affecting major Japanese exports. The US-Japan trade deal talks have centered heavily on tariffs in the automobile sector, a critical area for Japan’s economy.

Speaking at the White House before leaving for Rome, President Trump shared optimism about the discussions. He said, “I’m getting along very well with Japan. We’re very close to a deal.” However, he provided few additional details about the ongoing US-Japan trade deal talks.

Strengthening trade relations with Japan has become a major priority for Trump’s administration. Officials view a successful deal with Japan as a possible framework for future negotiations with other countries.

Since January, Trump has strongly promoted higher tariffs on imported cars, steel, and aluminum. He has argued that these tariffs address large trade deficits and combat unfair trading practices. Japan currently faces a combined 24 percent reciprocal tariff, made up of a 10 percent universal duty and a 14 percent country-specific rate.

Financial market worries, especially in the bond sector, have delayed full implementation of the new tariffs. In Yokohama, long lines of cars waiting for export at Daikoku Pier highlight Japan’s dependence on its auto industry.

Meanwhile, American trade officials confirmed that negotiations with Japan and other global partners are still ongoing. They are working toward alternative agreements that could lower or remove the current tariff rates.

While negotiators handle technical details, ultimate decisions will rest with President Trump. His final approval will determine whether the US-Japan trade deal talks produce a lasting agreement.

The coming days could mark a significant moment in trade relations between the United States and Japan. Leaders on both sides hope to finalize an agreement that boosts economic cooperation and eases tariff pressures.

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