Japan Advances in Trade Talks with U.S. Amid Tariff Concerns

Japan has made significant progress in the fifth round of trade negotiations with the United States, according to Ryosei Akazawa, Tokyo’s chief tariff negotiator. The talks focused on eliminating tariffs that have been damaging Japan’s economy, particularly those on autos, auto parts, steel, and aluminum. Some tariffs have doubled to 50%, exacerbating daily economic losses.

Akazawa declined to specify the advancements but emphasized the urgency of reaching a deal before a potential 24% tariff hike in July. Japan is leveraging U.S. defense equipment purchases, ship-building technology collaboration, and agricultural imports as bargaining chips. The negotiations must balance speed with safeguarding national interests.

Prime Minister Shigeru Ishiba and President TRUMP are expected to meet during the G7 summit in Canada, starting June 15. This round of talks was the final in-person meeting before the summit, setting the stage for high-stakes discussions.