Japan invokes national interest amid struggling tariff talks with US
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US President Donald Trump (left) seen with Japanese PM Shigeru Ishiba in February. Japan has yet to secure a US trade deal after nearly three months of negotiations.
PHOTO: REUTERS
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TOKYO – Japanese Prime Minister Shigeru Ishiba said on July 2 he was determined to protect his country’s national interests as trade negotiations with the US struggled and US President Donald Trump threatened even higher tariff rates
“Japan is different from other countries as we are the largest investor in the United States, creating jobs,” Mr Ishiba said in a public debate with opposition party leaders.
“With our basic focus being on investment rather than tariffs, we’ll continue to protect our national interest while working to reduce the US trade deficit with Japan,” he said.
Mr Trump on July 1 cast doubt on a possible deal with Japan
Tokyo has yet to secure a trade deal after nearly three months of negotiations as it scrambles to find ways to get Washington to exempt Japan’s automakers from 25 per cent automobile industry-specific tariffs, which are hurting the country’s manufacturing sector.
Japanese broadcaster TV Asahi reported on July 2 that Japan’s tariff negotiator Ryosei Akazawa was organising his eighth visit to the US as early as this weekend.
Mr Ishiba said during the debate that Japan would continue to create jobs in the US while protecting domestic industries.
“If auto sales to the US are bound to drop, we will boost domestic demand and diversify export destinations to protect Japanese industries,” Mr Ishiba said.
The deadlock in the trade talks could hurt the ruling coalition in a key Upper House election on July 20, although analysts say easy concessions could also undermine their support.
Mr Yoshihiko Noda, the leader of the largest opposition Constitutional Democratic Party of Japan, criticised Mr Ishiba’s tactics, accusing his administration of failing to set a clear framework for negotiations and being unable to convince the US side of Japan’s contributions. REUTERS
