Tariff Negotiation Loses Momentum
Minister in charge of Economic Revitalization, Ryosei Akazawa, came back from the seventh meeting as the top negotiator on tariffs with the United States. Having discussed on the issue with U.S. Secretary of Commerce, Howard Lutnick, in Washington, D.C., Akazawa did not have a meeting with his counterpart, Secretary of Treasury Scott Bessent. President Donald Trump indicated a possibility of terminating the bilateral negotiation, if both sides fail in reaching a deal. Akazawa stayed at the D.C. between June 26 th and 30 th this time. In the four-day visit, it was only Lutnick who had a meeting with Akazawa. “I will continue the discussion in a vigorous and sincere manner to achieve an agreement which will be beneficial for both Japan and the United States,” said Akazawa in his press conference in Tokyo after his trip to Washington. Trump’s tariff on imported cars took effect in April. According to data of Japan Automobile Manufacturers Association, Japan exporte...