Featured

Trump plans to join meeting with Japanese trade officials

President Trump said he will participate in a meeting between Japanese and U.S. trade officials Wednesday to underscore his aim to make a deal with other nations on his sweeping tariffs.

Japan is coming in today to negotiate Tariffs, the cost of military support and ’TRADE FAIRNESS,’” Mr. Trump said in a Truth Social post. “I will attend the meeting along with Treasury & Commerce Secretaries. Hopefully, something can be worked out which is good (GREAT!) for Japan and the USA!”

Mr. Trump’s announcement comes as Tokyo sent its economic revitalization minister, Ryosei Akazawa, to start the talks with Treasury Secretary Scott Bessent in Washington.

The meeting was expected to focus on exchange rates with Japan, plus trade and investment matters. On Tuesday, the Trump administration said it received offers from 15 nations for trade deals after the president announced last week a 90-day pause on reciprocal tariffs. More than 75 other countries have requested talks.

Mr. Bessent said countries that reach out fast have a “first mover advantage.”

Japan has been hit with 24% tariffs on its exports to the U.S., though these levies are on hold during the 90% pause. However, a 10% universal rate remains in place as does a 25% duty on cars, which is the lynchpin of Japan’s export economy.

Japanese Prime Minister Shigeru Ishiba on Monday said his country won’t rush to make a deal and doesn’t plan to make large concessions to the U.S. But he ruled out countermeasures to the U.S. tariffs.

Mr. Trump has long complained about the U.S. trade deficit with Japan and other countries, alleging that American businesses have been hurt by trade practices and efforts to maintain weak currencies. Tokyo has denied that it manipulates its currency to gain an advantage.

Mr. Bessent met with Vietnam’s deputy prime minister last week to discuss trade and invited South Korea’s finance minister to Washington for talks next week.

Meanwhile, Italian Prime Minister Giorgia Meloni will meet with Mr. Trump at the White House on Thursday to discuss tariffs imposed between the EU and U.S.

Source link

Related Posts

1 of 184