Media: Trump Says "Great Progress" Has Been Made in Tariff Negotiations with Japan
According to Bloomberg, U.S. President Trump said that the U.S. negotiators and Japanese officials have made "great progress" in negotiations surrounding America's tariff hike.
Trump posted on social media after the talks on Wednesday: "It was a great honor to just have talks with the Japanese delegation on trade issues and we have made tremendous progress."
Earlier on Tuesday morning, U.S. President Trump said he would personally attend this round of talks led by the U.S. Treasury Department and Commerce Department. Japanese Minister for Economic Revitalization Akira Amari arrived in Washington to chair the negotiation.
Bloomberg noted that foreign companies are scrambling to negotiate with the U.S. to avoid high import tariffs levied by Trump on about 60 trading partners, which were later postponed. This policy canceled the comprehensive tariff of 24% on Japanese imports but maintained the basic tax rate of 10%, and still imposed a 25% tariff on cars, steel, and aluminum products.
The negotiations with Japan are being closely watched because it is a pilot for countries uncertain about Trump's conditions. U.S. Treasury Secretary Scott Bessent previously stated that as military allies, Japan may become a priority consideration when negotiating with many countries seeking agreements.
Bessent said he plans to reach agreements with Japan and other U.S. partners to exert economic pressure on China through joint actions.
Japan intends to propose a package agreement plan to persuade Trump to cancel the 24% tariff. During his meeting with Trump in February, Japanese Prime Minister Shinzo Abe promised to purchase more American liquefied natural gas and increase investment in the U.S. to a scale of $1 trillion.
In addition, Japanese leaders have consistently claimed that Japan is the largest investor in the U.S., and the factories built by Japanese automakers in the U.S. have created jobs for Americans.
Original Source: https://www.toutiao.com/article/1829606965570569/
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