Trump will promote “great progress” in his talks with Japan.
The first real test of whether US President Donald Trump’s “liberation day” is underway in Washington between Japan and the United States. Customs It leads to new trade transactions.
Trump, who will post on social media on Wednesday, appears to be happy with the story so far. “It is a great honor to have just met a Japanese delegation on trade. Great progress!” I wrote it In a post about the True Society.
Apart from Trump’s posts, there were very few details from Japanese and US negotiators. The meeting included US Treasury Secretary Scott Bescent, Commerce Secretary Howard Luttonick and trade representative Jamieson Greer. The Japanese side is led by Ryosei Akazawa, Minister of Economic Revitalization in Japan and its chief tariff negotiator.
The only publicly recognized outcome of the meeting was that the two were scheduled to meet again.
Akazawa did tell me One problem did not arise, reporter: Exchange rate. The Trump administration has accused an economy like Japan of manipulating currency and gaining a favorable trade.
Can Japan get a trade contract?
Japan is a major test of the Trump administration’s willingness to sign trade deals with its closest allies and biggest trading partners. Asian countries, along with South Korea, Australia, the UK and India, are one of the top negotiation priorities. Wall Street Journal It has been reported Earlier this week.
Japanese stocks rose slightly on Thursday, with the benchmark Nikkei 225 index rising 1.35% due to market closures.
Japanese Prime Minister Shigeru Ishiba I said A reporter on Thursday warned that “there is still a gap between Japan and the US’s respective stances,” and that further negotiations would not be easy.
Japan is one of several Asian countries that bear the brunt of Trump’s tariffs. Even before the “liberation day,” Trump’s tariffs on 25% automobile and steel imports pose a major threat to the Japanese economy.
On April 2nd, Trump slapped 24% tariffs on all imports from Japan. He later suspended 90-day duties to allow negotiations. Currently, Japanese imports face 10% baseline tariffs, while cars and steel earn 25% tax on top of that.
In a post ahead of his encounter with Japan, Trump said he would cultivate “tariffs, military support costs, and “trade equity.”
Other world leaders are likely to be seeing the outcome of Trump’s negotiations with Japan. Tokyo shows that it will not get a contract by offering large concessions to the president.
In the meantime, while Isba is on the phone with other world leaders, the person at his point of trade continues to work in Washington. Public Broadcasting Station NHK Report The Japanese Prime Minister spoke separately with French President Emmanuel Macron and Malaysian Prime Minister Anwar Ibrahim to discuss how to deal with US tariffs.
This story was originally introduced Fortune.com