Japan Races to Hold Trade Talks with U.S.
(MENAFN) Japanese Prime Minister Shigeru Ishiba is pushing to arrange a high-level trade dialogue with US Treasury Secretary Scott Bessent, according to a Tuesday report by media, which cited unnamed government officials.
Sources indicate the meeting could occur as early as Friday, aligning with Secretary Bessent’s scheduled visit to Japan for the World Exposition in the port city of Osaka.
This effort follows President Donald Trump’s recent declaration that the United States will impose a 25% tariff on Japanese imports beginning August 1.
The potential talks would come at a politically sensitive moment, just ahead of Japan’s upper house elections on Sunday. Recent media polling suggests Ishiba's ruling coalition could struggle to maintain its parliamentary majority.
Japan’s chief tariff negotiator, Ryosei Akazawa, is anticipated to receive Bessent and his delegation, the sources added.
Speaking at a press conference on Tuesday, Akazawa said, "We will continue negotiations over tariffs with the United States through various channels," though he did not clarify whether formal discussions with Bessent were scheduled during his stay in Japan.
President Trump, in a July 7 notice to several US trading partners, announced updated “reciprocal tariff” increases. Japan’s rate will rise to 25%, up from the 24% set in April.
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