Japan Cancels U.S. Trade Talks: Doubts Grow Over Deal’s Future
Japanese Trade Minister Ryosei Akazawa canceled a planned trip to the U.S. to discuss the U.S.-Japan trade deal due to unresolved technical issues. The cancellation stems from discrepancies regarding U.S. tariff measures, specifically the desired amendment of a presidential order to lower tariffs on automobiles and auto parts. Japan is pushing for a “no-stacking” arrangement, mirroring the EU deal, and is concerned about potential negative impacts on exports, industrial production, and corporate profits, particularly within the manufacturing sector, if the issues are not resolved. Discussions are now expected to continue at the administrative level, with a potential rescheduled visit by Akazawa possibly happening next week.
John Q. Hosedrinker