Japan has made some progress in the fifth round of commercial negotiations with US authorities to eliminate tariffs that are harming the Japanese economy, Tokyo’s chief negotiator said on Friday.
“Tariffs have already been imposed on cars, auto parts, steel and aluminum, and some of them have doubled to 50%, along with the 10%overall fare. This is causing daily losses to Japan’s economy,” Ryosi Akazawa said in Washington after conversations with authorities, including Treasury Secretary Scott Bessent, and Trade Secretary Howard Lutnick.
Akazawa refused to say what progress was achieved.
The latest round of negotiations may be the last face-to-face meeting between Japanese and American authorities before the G7 leaders summit, which begins on June 15, where US President Donald Trump is expected to meet Japanese Prime Minister Shigeru Ishiba.
Japan can also face a 24% rate from July unless it can negotiate an agreement with Washington.
“We want an agreement as soon as possible. The G7 summit is on our radar, and if our leaders meet, we want to show the progress that has been done,” said Akazawa. “Still, we must balance the urgency with the need to protect our national interests,” he added.
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Last month, Japan’s commercial negotiator said that purchases from US defense equipment, collaboration in shipbuilding technology, revision of car import patterns and increased agricultural imports could be exchange coins in tariff negotiations.
In an attempt to reach an agreement with the US, Japan is also proposing a mechanism to reduce the car rate rate based on the contribution of countries to the US auto industry, Asahi newspaper said on Friday.
Akazawa said Japan’s position has not changed and that the fares is not acceptable.
