7th Jun 2025 10:03
(Alliance News) - Japan said on Saturday it was making "progress" in talks aimed at easing US President Donald Trump's tariffs, but cautioned that the two sides have not found "a point of agreement yet".
Japan, a key US ally and its biggest investor, is subject to the same 10% baseline tariffs imposed on most nations plus steeper levies on cars, steel and aluminium.
Trump also announced an additional 24% "reciprocal" tariff on Japan in early April, but later paused it along with similar measures on other countries until early July.
Japan wants all levies announced by Trump lifted.
During a fifth round of talks, "we further made progress towards an agreement", Ryosei Akazawa, Tokyo's trade envoy, told Japanese reporters in Washington.
But, he added: "We've not been able to find a point of agreement yet".
Akazawa said Tokyo was hoping to seal a deal "as soon as possible." However, talks may still be ongoing when a summit of the Group of Seven wealthy nations starts on June 15.
Japanese Prime Minister Shigeru Ishiba and Trump are reportedly planning to hold bilateral talks around the time of the G7 summit in Canada.
Washington's 25% auto tariffs are particularly painful for Tokyo, with roughly 8% of all Japanese jobs tied to the sector.
Japan's economy, the world's fourth largest, contracted 0.2% in the first quarter of 2025, adding to existing pressure on the unpopular Ishiba ahead of upper house elections expected in July.
source: AFP
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