Japan’s tariff envoy seeks ‘win-win’ deal in talks with the US
Sign up now: Get ST's newsletters delivered to your inbox
Tokyo’s top trade negotiator Ryosei Akazawa is leading a team Japan hopes will bring home a good deal with the US.
PHOTO: REUTERS
Follow topic:
WASHINGTON – Tokyo’s envoy for US tariff talks left for Washington on April 16, saying he is confident of a “win-win” outcome while protecting Japanese national interests.
Analysts said the result of Mr Ryosei Akazawa’s visit could set the template for other countries’ negotiations with US President Donald Trump’s administration.
“I am confident that we will be able to build a relationship of trust and conduct good negotiations that will lead to a win-win relationship,” Mr Akazawa, Japan’s Economic Revitalisation Minister, told reporters.
Mr Trump has paused for 90 days
But despite being the biggest investor in the United States, Japan has still been hit with steep levies on imports of its cars, steel and aluminium.
Carmaker Honda said on April 16 it will shift production of its hybrid Civic model from Japan to the US in June or July but stopped short of saying the reason was US tariffs.
The rationale behind the decision “is not a single issue”, a spokesman for the Japanese firm said. “The decision is based on the company’s policy since its foundation that we produce cars where the demand is.”
The vehicle, however, represents only a small part of the company’s annual output.
Mr Akazawa will meet US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer for wide-ranging discussions that could also address energy projects and the thorny issue of exchange rates.
While Mr Bessent has said there is a “first mover advantage” as more than 75 countries have requested talks, Japanese Prime Minister Shigeru Ishiba has said the close US ally will not rush to reach a deal
Mr Kurt Tong, managing partner at The Asia Group, a Washington-based consultancy, said: “The difficulty for the Japanese team is that the United States has created a huge amount of leverage for itself, unilaterally.”
“The US is offering to not hit Japan with sticks, and Japan is stuck in a position of offering a whole lot of carrots. From their perspective, it feels like economic coercion,” added Mr Tong, an ex-State Department official.
Mr Trump has long complained about the US trade deficit with Japan and other countries, saying US businesses have been ripped off by unfair trade practices and intentional efforts by other countries to maintain weak currencies.
Mr Bessent met Vietnam’s deputy prime minister last week to discuss trade and has invited South Korea’s finance minister to Washington for talks next week.
Italian Prime Minister Giorgia Meloni will meet Mr Trump at the White House on April 17 to discuss tariffs imposed on the European Union.
The scope of the April 16 discussions remains unclear.
Mr Bessent has said he is hoping to strike deals that would cover tariffs, non-tariff barriers and exchange rates, though Tokyo has lobbied to keep the latter separate.
Possible Japanese investment in a multibillion dollar gas project in Alaska could also feature, Mr Bessent has said.
Japan hopes that pledges to expand investment in the US will help to convince Washington that the two countries can achieve a “win-win” situation without resorting to tariffs, Mr Akazawa said ahead of his departure. REUTERS
