Japan trade negotiator Akazawa says he made progress in US tariff talks
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Mr Ryosei Akazawa said Japan must balance urgency in trade talks with a need to guard its national interests.
PHOTO: REUTERS
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TOKYO – Japan had made some progress in a fifth round of trade talks with US officials aimed at ending tariffs that are hurting Japan’s economy, Tokyo’s chief tariff negotiator said.
“Tariffs have already been imposed on autos, auto parts, steel and aluminium, and some of them have doubled to 50 per cent along with 10 per cent general tariff. These are causing daily losses to Japan’s economy,” Mr Ryosei Akazawa said in Washington on June 6 after talks with officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
Mr Akazawa declined to say what progress they had made.
The latest round of talks may be the last in-person meeting between senior Japanese and US officials before the Group of Seven (G-7) leaders’ summit
Japan also faces a 24 per cent tariff rate starting in July unless it can negotiate a deal with Washington.
“We want an agreement as soon as possible. The G-7 summit is on our radar, and if our leaders meet, we want to show what progress has been made,” Mr Akazawa said. “Still we must balance urgency with a need to guard our national interests,” he added.
In May, Japan’s trade negotiator said US defence equipment purchases, shipbuilding technology collaboration, a revision of vehicle import standards and an increase in agricultural imports could be bargaining chips in tariff talks.
In a bid to reach an agreement with the US, Japan is also proposing a mechanism to reduce the vehicle tariff rate based on how much countries contribute to the US auto industry, the Asahi newspaper reported on June 6.
Mr Akazawa said Japan’s position has not changed and that the tariffs are not acceptable. REUTERS
