Japan Looks to Finalize Tariff Talks with U.S.

2025-05-26 02:21:38

(MENAFN) Japan aims to finalize a tariff agreement with the United States during the upcoming Group of Seven summit in Canada this June, Prime Minister Shigeru Ishiba announced on Sunday, according to media reports.

"We will further advance discussions, with the G-7 summit in mind," Ishiba stated to reporters after the third round of ministerial tariff negotiations between Tokyo and Washington, which took place on Friday.

Japan’s chief tariff negotiator, Ryosei Akazawa, held discussions with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, during which he "strongly" pressed the U.S. to eliminate the additional tariffs imposed on Japan.

In a recent phone conversation, Ishiba and U.S. President Donald Trump reaffirmed their commitment to continue pursuing a resolution on the issue when they convene at the G-7 summit.

Tokyo has consistently appealed to Washington to reassess its current tariff measures, including a 25% import tax on automobiles.

Although a proposed 24% "reciprocal" tariff has been put on hold, the United States still maintains a 10% standard duty, alongside tariffs on steel and aluminum.

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