President Donald Trump said negotiators made “big progress” in a meeting with Japanese officials seeking a deal to avoid higher levies he has threatened against US trading partners.“A Great Honor to have just met with the Japanese Delegation on Trade. Big Progress!” Trump posted Wednesday on his social media site following the meeting.
Trump earlier in the day had said he would personally attend the talks, which were led by the US Treasury and Commerce Departments. Japan’s economic revitalization minister, Ryosei Akazawa, arrived in Washington to conduct the negotiations.
Foreign capitals are racing to negotiate deals with the US to avert high import taxes Trump imposed — and then quickly paused — on about 60 trading partners. That move put a 24% across-the-board tariff on Japanese imports on hold, though a 10% baseline charge still applies — as well as 25% levies on cars, steel and aluminum.The Japan talks are being closely watched as a test case for other nations uncertain over what concessions Trump will seek to extract.
Trump earlier in the day had said he would personally attend the talks, which were led by the US Treasury and Commerce Departments. Japan’s economic revitalization minister, Ryosei Akazawa, arrived in Washington to conduct the negotiations.
Foreign capitals are racing to negotiate deals with the US to avert high import taxes Trump imposed — and then quickly paused — on about 60 trading partners. That move put a 24% across-the-board tariff on Japanese imports on hold, though a 10% baseline charge still applies — as well as 25% levies on cars, steel and aluminum.The Japan talks are being closely watched as a test case for other nations uncertain over what concessions Trump will seek to extract.
Treasury Secretary Scott Bessent has said Japan, a military ally, will likely be prioritized as the US deals with a flood of nations all looking to cut their own deals.
Bessent has said he envisions reaching agreements with Japan and other US partners to harness a collective effort to apply economic pressure on China.
Japan is expected to offer the US a broad deal as it urges Trump to drop the 24% duty. During a February meeting with Trump, Japanese Prime Minister Shigeru Ishiba promised to buy more American liquid natural gas and raise investment in the US to $1 trillion.
Japanese leaders have touted Japan’s standing as the biggest investor in America, including factories built by Japan’s automakers that have created US jobs.
