Following the second round of US-Japan ministerial talks, Prime Minister Ishiba reaffirmed Japan’s demand for a complete removal of all US tariffs, including those on automobiles, steel, and aluminum. Despite a significant gap in positions, Japan will continue pressing for a review of these tariffs, deeming the auto part tariffs particularly regrettable. Minister Akazawa echoed this stance, emphasizing the need for a total rollback of the tariff package for any agreement. Intensive ministerial meetings are scheduled for mid-May, with working-level talks already underway.
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Suntory Holdings’ CEO Takeshi Niinami expressed cautious optimism regarding ongoing trade talks between Japan and the U.S., emphasizing Japan’s significant investment in U.S. Treasury bonds and its role as a major U.S. investor. Niinami highlighted Japan’s strategic leverage, including its substantial Treasury holdings and potential increased military procurement from the U.S., to navigate tariff negotiations. He acknowledged the current trade climate’s challenges while emphasizing Japan’s continued interest in U.S. investment opportunities due to high U.S. productivity. These comments precede high-level talks between Japanese and U.S. officials aimed at resolving trade disputes.
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Ahead of upcoming U.S.-Japan trade talks, Prime Minister Shigeru Ishiba stated Japan will not make major concessions to secure a deal, while also rejecting retaliatory tariffs. Ishiba emphasized the need to understand President Trump’s motivations, both logical and emotional, regarding tariffs and trade. These negotiations are significant due to the substantial trade volume between the two nations and their complex security relationship, impacting various sectors including autos, electronics, and agriculture. The talks commence on April 17th, with the potential for significant changes to the bilateral trade relationship.
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John Q. Hosedrinker