Japan: "US-Japan to Reach Early Tariff Agreement... US Wants to Conclude in 90 Days" [Comprehensive]

Trump Not Participating in Ministerial Negotiations

In the first tariff consultation between the US and Japan, which will determine the direction of the Korea-US tariff negotiations, the two countries agreed to reach an agreement as soon as possible and announce it at the summit level, according to Ryosei Akazawa, Japan's Minister of Economic Revitalization.

According to Kyodo News and NHK, Minister Akazawa met with reporters immediately after negotiating with US Treasury Secretary Scott Besant and US Trade Representative (USTR) Representative Jamieson Greer in Washington, DC, on the 16th (local time), saying, "Both sides have decided to engage in consultations with a frank and constructive attitude."

Minister Akazawa reported that the US and Japan coordinated schedules to hold the next consultation within this month. He also explained that they agreed to continue consultations not only at the ministerial level but also at the working level.

Initially, US President Donald Trump announced that he would directly attend the tariff negotiations with Japan. However, according to Japanese media reports, it seems that President Trump did not participate in the negotiations between the tariff ministers of both sides.

Currently, the US has already imposed a 25% tariff on steel and automobiles and has decided to implement a 24% reciprocal tariff against Japan. Minister Akazawa emphasized that during this negotiation, he explained the impact of tariffs on Japanese industry and US-Japan investment and employment expansion, and requested a review of tariff policies.

He stated that he understands the US wants to conclude the transaction (tariff negotiations) within the 90-day grace period for reciprocal tariffs, saying, "We want to do it as early as possible, but the future progress of the negotiations is still unknown," showing a cautious attitude.

Minister Akazawa, regarding his meeting with President Trump at the White House before the tariff negotiations, said, "I conveyed Prime Minister Shigeru Ishiba's message that we want to realize a comprehensive agreement that strengthens both the Japanese and US economies as soon as possible."

Meanwhile, this US-Japan negotiation was noted as a meaningful 'reference material' for Korea ahead of the visit to the US by Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok next week.

Min-hyung Lee, Hankyung.com Reporter meaning@hankyung.com