Japan and U.S. Set Up Negotiation over Tariffs

Prime Minister Shigeru Ishiba had a 25-minute telephone talk with U.S. President Donald Trump on Trump’s announcement of introducing “reciprocal” tariffs on April 7th. While Ishiba hoped Trump to rethink imposing tariffs on Japanese products, Trump did not retract his idea. Both leaders agreed on discussing the issue at the level of ministers.

After the telephone conversation, Ishiba told the reporters that he expressed his extreme regret on Trump’s tariffs. “I said to the president that I was concerning decline of energy for investment to the U.S. among industries in Japan, which had been the biggest foreign investor for recent five consecutive years,” said Ishiba. Ishiba requested Trump mutually beneficial tariffs for both Japan and the U.S., including broader investments, without introducing unilateral tariff policy.

 

According to Ishiba, Trump explained the situation of the U.S. in international economy. They reconfirmed that they would continue frank and constructive discussion and agreed on setting up a framework of discussion at the level of ministers. It is reported that U.S. Secretary of Treasure, Scott Bessent, and U.S. Trade Representative, Jamieson Greer, will be in charge of negotiation with Japan.

 

Iahiba appointed Ryosei Akazawa, Minister for Economic Revitalization and one of the closest allies of Ishiba, for leading the Japan team. It is supposed that Ishiba picked Akazawa because Akazawa is not in charge of a specific ministry and capable of leading an inter-ministerial team. “I hope to achieve an outcome of negotiation as soon as possible based on confidence with the counterparts,” said Akazawa to the reporters.

 

Trump announced his intention to maintain current relationship with Japan, in spite of unilateral imposition of high-rate tariffs, in addition to additional 25 percent tariff on Japanese cars. “So we have a great relationship with Japan. We’re going to keep it that way,” said Trump to the reporters. “Countries from all over the world are talking to us. Tough but fair parameters are being set,” Trump wrote on the Truth Social platform.

 

Bessent emphasized that Japan is an important ally in terms of security and economy. “I would expect that Japan is going to get priority just because they came forward very quickly,” said Bessent. He showed his perspective that China is isolating itself by retaliating against Trump’s tariffs, indicating certain reduction of tariffs toward Japan through negotiations.

 

Ishiba established a conference of ministers to deal with Trump’s tariffs the day after telephone talk with Trump. He instructed the ministers to analyze the impact of Trump’s tariffs on Japanese economy, to enhance diplomatic efforts to urge the U.S. to rethink the policy and to take utmost measures to support businesses in Japan. Ishiba also expressed his serious concern that Trump’s tariffs would violate Marrakesh Agreement Establishing the World Trade Organization in 1994 and Japan-U.S. Trade Agreement in 2019. He hopes to visit Washington and have a meeting with Trump as soon as possible.

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