The second round of U.S.-Japan tariff negotiations failed to find a consensus that could be agreed upon.

The second round of U.S.-Japan tariff negotiations was held in Washington, the U.S. capital, on May 2nd in Japan time. Yasumasa Akaza, the Japanese minister responsible for economic regeneration and the negotiation representative of the Japanese side, began talks with U.S. Treasury Secretary Bessent and others around 6:00 a.m. Japan time, lasting about two hours. On the 2nd, Prime Minister Shigeru Ishiba stated that he had received a report from Minister Akaza regarding this second round of tariff negotiations. During an interview with the media at the Prime Minister's Office, he said, "We had constructive and in-depth discussions, but we have not yet found a consensus that both sides can agree on."

After the talks, Minister Akaza spoke to reporters, stating that the discussions deepened on three points: 1) expanding trade between the two countries; 2) reviewing non-tariff barrier measures; and 3) cooperation in economic security.

During the talks, U.S. Treasury Secretary Bessent and U.S. Trade Representative [USTR] Representative Greer participated, and both sides expressed that they would begin focused ministerial-level discussions from mid-May to reach an agreement as soon as possible. The issue of exchange rates or security matters was not discussed in these negotiations.

Regarding consultations with Bessent and others, Akaza stated, "We had open and constructive discussions aimed at achieving an agreement beneficial to both Japan and the United States as soon as possible. I believe progress has been made in the negotiations."

He also said, "For example, we had specific and in-depth discussions on expanding bilateral trade, non-tariff measures, and economic and security cooperation."

Akaza further stated that Japan expressed regret over the series of tariff measures implemented by the U.S. against its trading partners and had "strongly requested" the U.S. to reconsider these measures.

At the press conference after the talks, Akaza expressed hope for a summit-level agreement in June. In response to the media, Prime Minister Shigeru Ishiba stated, "I believe it is inappropriate to talk lightly about a specific timeline. While reaching an agreement as soon as possible is good, it is only natural that we cannot sacrifice national interests for the sake of speed."

On the other hand, issues of concern to President Trump, such as the depreciation of the yen and the increase in costs for U.S. troops stationed in Japan, were not included in the agenda of these talks. Akaza pointed out, "At present, we do not believe these two issues will become topics of future negotiations." He stated that issues related to exchange rates and security would be discussed separately outside the framework of the U.S.-Japan tariff negotiations. Regarding the exchange rate issue, it is expected to be handled during the meeting between Japanese Finance Minister Kato Katsumi and Treasury Secretary Bessent.

As for the arrangements of future negotiations, Akaza stated, "Under the premise of protecting national interests, we aim to reach a conclusion beneficial to both Japan and the U.S. as soon as possible." He emphasized the need to continue demanding important results that align with Japan's national interests, such as the abolition or reduction of tariffs, while taking into account the current reality where Japanese automobile manufacturers have already suffered losses, indicating efforts to reach an agreement as soon as possible.

Source: rfi

Original Source: https://www.toutiao.com/article/1831021524345864/

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