Prime Minister Shigeru Ishiba said Monday Japan will not make compromises for the purpose of quickly concluding upcoming tariff negotiations with the United States, underlining the importance of exploring how the longtime allies can cooperate.
In parliament, Ishiba said he is not thinking about imposing retaliatory tariffs on the United States, which has hiked import duties on cars, steel and aluminum, and imposed "reciprocal" tariffs on its trading partners.
Ahead of his expected trip to the United States this week for the launch of ministerial talks, Ryosei Akazawa, Japan's economic revitalization minster who is in charge of the negotiations, ruled out taking up currency issues, saying they should be left to the finance chiefs of the two nations.
"We do not intend to make one compromise after another to conclude negotiations swiftly," Ishiba told a session of the Budget Committee of the House of Representatives.
But asked about taking countermeasures against U.S. President Donald Trump's slapping of higher tariffs on U.S.-bound shipments, Ishiba showed a negative stance despite Tokyo expressing its concern about whether they are consistent with World Trade Organization rules.
"I don't think retaliatory tariffs would serve our national interests when we are hit by surging energy and food prices," apparently in view of the risk that higher tariffs on imports from the United States would accelerate inflation in Japan.
Still, he added that he has not taken the option of retaliatory tariffs off the table completely.
Trump's imposition of higher import duties on products entering the world's largest economy have also raised concern about a further acceleration of inflation in the United States and hurt its economic growth.
During a telephone conversation with Trump last week, Ishiba agreed that they would appoint ministers in charge of tariff negotiations.
"I will devote myself (in the negotiations) to prioritizing what is most appropriate and effective for Japan's interests," Akazawa told the parliamentary session.
Yoshihiko Noda, leader of the main opposition Constitutional Democratic Party of Japan, warned during the committee session that the United States may push for a weak dollar under Trump and aim for an agreement akin to the Plaza Accord in 1985, when major economies including Japan agreed to help depreciate the U.S. currency.
U.S. Treasury Secretary Scott Bessent, Akazawa's counterpart in bilateral negotiations, said on social media he is looking forward to a productive engagement on tariffs, nontariff barriers, currency issues and government subsidies.
"There is no doubt that the United States will use (currency issues) as a bargaining chip in the forthcoming negotiations," said Noda, who served as Japan's prime minister between 2011 and 2012.
"Currency issues should continue to be closely discussed by Finance Minister (Katsunobu) Kato and (Treasury) Secretary Bessent," Akazawa said.
The point was made clear when Ishiba met with Bessent in February during his visit to the United States for a summit with Trump, the minister added.
Japan has been urging the United States to rethink its tariff measures. While part of the 24 percent "reciprocal" tariff that Trump imposed on Japanese goods has been put on hold for 90 days, a baseline 10 percent duty remains in place, in addition to the levies on cars, steel and aluminum.
© KYODO
28 Comments
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HopeSpringsEternal
Take your time Ishiba, dot the i's and cross the t's, and always better to get a fair deal. Other countries moving faster, other's slower, case by case, no surprise there!
But reducing tariff and non-tariff barriers, will benefit both US and Japan's consumers and businesses, except for those few companies losing their protected markets and artificially high profits, paid for by Japan's consumers
grc
Presumably Ishiba’s call last week is one of the dozen or so that Trump is bragging are making the White House phones ‘ring off the hook’
dbsaiya
Remind them that trump flinched when he saw the bond market tanking and that Japan is the largest foreign holder of U.S. debt.
elephant200
Japan needs US protection otherwise she cannot survive. The price of this protection is doing whatever ridiculous demands from Donald Trump.Only appeasement of the big bully can guarantee a ticket of survival, Japan is neither being present China nor the Japan in 1980s, she is very fragile and timidly aware of any changes !
Bret T
I understand Ishiba san is trying to look strong to help his reputation in Japan, but it's unwise for him to make anything other than positive comments ahead of these negotiations. Such as "I am very much looking forward to the negotiations and expect a very positive outcome for both Japan and the US".
To make a statement implying no progress will be made on a top US pet peeve is not a good start to your trip.
OKuniyoshi
All you need/has to do, is remember what trump said a few days ago, Don't "Kiss my AXX". If you remember it, you are doing your job.
Peter Neil
Reduce auto tariffs from zero to what? Pay the US to import cars?
Or the 350,000 tons of rice imported every year tariff free?
Reduce the tariffs on all of the electronics made in the US? Oh, wait. There aren’t any.
How about the US reduce its tariffs, like 50% on leather, or its tariff on cars, or 25% on pickup and light trucks?
Some people speak with forked tongues.
elephant200
And Trump wants Japan to pay more money to the US military occupying her soils known as protection from the communists. It wasn't just about economic imbalance but a huge ransom used to pay the mafia for " Protection " !
Yrral
Forrest Trump, Tariff are like a box of rocks ,you do.not know what your gonna get
TokyoLiving
Wake up Japan..
Get rid off those vultures..
Rivera
Yes I think Japan should get rid of their vultures.
elephant200
Deals with Donald Trump right now's threatening and blackmailing manner ?
It is a robbery instead. I hope Japan is not going to give in a thief like Donnie Trump !
bass4funk
They don't have to, but the tarffs will remain, so sooner or later with the economy in the state that it's in they will negotiate a deal, now to how that will all look, I have no idea.
deanzaZZR
The last year the USA had a trade surplus with Japan was 1975. Best case scenario is Japan gets the base 10% tariff rate plus has to pay more for USA military bases. 25% automobile tariff is there too. Japan doesn't have much agency
yakyak
Of course, Japan won't rush—they never do. This country is always five years behind the rest of the world until it is forced to make policy changes.
ZENJI
What trump does & says at 10am, will change by Midday.
Brian Wheway
What rent or rates does Japan get from the USA air and military bases ? I have a feeling its about to go up
motytrah
I don't see a reason to rush. A lot of Japanese brands exported to the US are really made in other parts of APAC. And Japan was ahead of curve in getting factory production out of China.
The big thing is the law they are using isn't a tariff law. It's a sanction law. Article I of the constitution clearly states tariffs are for congress to decide. There's a pretty good chance the courts will overturn the tariffs and it will roll back to the last slate that congress passed.
itsonlyrocknroll
This/The Japanese government must urgently prioritize structural economic reforms.
Tax/healthcare/depopulation/employment/education etc.
A total security review land sea and air.
To include whether USFJ continue in its current form.
Trump's tariffs, are a harsh wake up call.
The government of Japan must present openly honestly to the people such reforms will mean sacrifices.
However necessary, for Japan to build a future without be held to ransom.
Tamarama
All of this speaks to the need for a stronger, more unified Asia, in every respect. Japan should work towards that, as should China, Korea, etc, inclusive of trade, diplomacy, security, military cooperation.
Asia needs to re-think who and what it is in the face of this aggression from the US.
kurisupisu
Why would Japan compromise its own energy security by spiting a country with vast amounts of natural gas and oil?
TaiwanIsNotChina
A despotic you-know-what ruled by China?
TaiwanIsNotChina
That country never learned to be an adult.
diobrando
They cant rush as they are sleeping as well as the politician on article picture.
Cephus
Take your time PM, wisdom in negotiations is required.
Nibek32
Just wait it out. Trump will be gone soon and the next potus will reverse everything trump did.
1glenn
Although I am an American, I consider this potus a terrible bully, and a stupid one at that. I hope the world stands up to him. Anything else could be fatal, for Japan, the rest of the world, and even for us Americans.
Giving in to the bully may seem like the expedient thing to do in the short term, but in the long term could be really, really bad.
bass4funk
I’m an American as well, and I thought most President’s were historically weak and allowed themselves to be bullied by our so-called allies
They can, but they need us, this is why most will negotiate a deal
And yet, overall, the only Americans that fear him are the mega rich in the U.S.
And this is why the U.S. is in the state that it’s in, not anymore. A deal will be made which will benefit everyone, but the days of being taken advantage of are over.