Japan Pursues “Special Treatment” in U.S. Tariff Discussions
(MENAFN) Japan’s chief trade negotiator revealed on Friday that Tokyo is pushing the United States for “special treatment” amid ongoing tariff discussions, following President Donald Trump’s recent comments about potentially increasing tariffs on imported vehicles to shield American auto workers.
“Once bilateral negotiations are finalized, I think Japan will be given special treatment separate from the rule that applies to most countries,” Economic Revitalization Minister Ryosei Akazawa told reporters in Tokyo, as reported by media.
Akazawa is currently making his fourth visit to Washington ahead of the sixth round of trade negotiations between the two nations. He is also expected to accompany Prime Minister Shigeru Ishiba for a meeting with President Trump on the sidelines of the Group of Seven (G7) summit in Canada, which kicks off on June 15.
This appeal from Tokyo follows Trump’s statement on Thursday, in which he indicated that he might raise the existing 25% tariff on foreign vehicles “in the not-too-distant future.”
An increase in tariffs could severely impact Japan’s automotive industry, the country’s largest export sector. In 2024, Japan exported vehicles worth 16.2 trillion yen ($112 billion) worldwide, including 5.9 trillion yen ($39 billion) to the US, according to data from the Observatory of Economic Complexity.
Japan has persistently urged Washington to eliminate the 25% import tax on automobiles. Despite a planned reciprocal tariff of 24% being suspended, the US continues to enforce a baseline tariff of 10%, alongside additional tariffs on steel and aluminum imports.
“Once bilateral negotiations are finalized, I think Japan will be given special treatment separate from the rule that applies to most countries,” Economic Revitalization Minister Ryosei Akazawa told reporters in Tokyo, as reported by media.
Akazawa is currently making his fourth visit to Washington ahead of the sixth round of trade negotiations between the two nations. He is also expected to accompany Prime Minister Shigeru Ishiba for a meeting with President Trump on the sidelines of the Group of Seven (G7) summit in Canada, which kicks off on June 15.
This appeal from Tokyo follows Trump’s statement on Thursday, in which he indicated that he might raise the existing 25% tariff on foreign vehicles “in the not-too-distant future.”
An increase in tariffs could severely impact Japan’s automotive industry, the country’s largest export sector. In 2024, Japan exported vehicles worth 16.2 trillion yen ($112 billion) worldwide, including 5.9 trillion yen ($39 billion) to the US, according to data from the Observatory of Economic Complexity.
Japan has persistently urged Washington to eliminate the 25% import tax on automobiles. Despite a planned reciprocal tariff of 24% being suspended, the US continues to enforce a baseline tariff of 10%, alongside additional tariffs on steel and aluminum imports.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- Microgrid Market Growth, Key Trends & Future Forecast 2033
- Nickel Market Estimated To Exceed USD 55.5 Billion By 2033
- Primexbt Launches Empowering Traders To Succeed Campaign, Leading A New Era Of Trading
- Chaingpt Pad Unveils Buzz System: Turning Social Hype Into Token Allocation
- Ecosync & Carboncore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3
- Japan Halal Food Market Size To Surpass USD 323.6 Billion By 2033 With A CAGR Of 8.1%
More Story
Comments
No comment