Tariff Negotiations: US-Japan Talks Stalled on Automotive, Steel and Other Products

Japan and the U.S. government held the second round of ministerial-level negotiations on tariffs at the U.S. Treasury Department on May 1 (EDT). The talks lasted for two hours. U.S. Treasury Secretary Bessette and Trade Representative Greer attended, while Japanese Minister for Economic Revitalization Akizawa Akiyoshi was present. At a press conference after the meeting, Akizawa stated regarding Trump's tariff policies: "We have strongly requested that [the U.S.] review these measures." Both parties agreed to commence close consultations at the official level starting tomorrow and to hold another ministerial-level negotiation after mid-May.

According to the Nikkei Asian Review, during the US-Japan ministerial-level tariff negotiations on May 1, the U.S. side explicitly proposed that it would be difficult to reduce tariffs on products such as automobiles, steel, and aluminum. The U.S. also demanded that Japan adjust non-tariff barriers related to automobiles and expand imports of agricultural products, all of which are linked to reducing the U.S. trade deficit with Japan. In response, Japan strongly objected and reiterated its demand for the U.S. to reassess a series of tariff measures.

In Tokyo, Prime Minister Shinzo Abe stated bluntly in the media on the 2nd that Japan absolutely cannot accept the Trump administration's imposition of tariffs on Japanese automotive products. Regarding the U.S.'s expectation to reduce the trade deficit with Japan, Abe said, "We will do our best, but it must not result in the loss of job opportunities in Japan." Speaking to the press at the Prime Minister's Office regarding the U.S.-Japan tariff negotiations, Abe stated: "Of course, reaching an agreement as soon as possible is ideal, but we must never sacrifice national interests for haste."

Abe also mentioned that he had received a report from Akizawa indicating that "the U.S. and Japan have yet to reach a consensus, but the negotiations were very forward-looking and constructive."

Japan remains steadfast in its stance of requesting the U.S. to revoke tariff measures. Abe emphasized, "Both sides are negotiating for their national interests and will spare no effort." As for when the U.S.-Japan tariff negotiations can reach a consensus, Abe said: "This should not be discussed."

Original Source: https://www.toutiao.com/article/1831052168814729/

Disclaimer: This article solely represents the author's personal views.