U.S. and Japanese tariff negotiations fail to reach an agreement, with the U.S. continuing to pressure Japan.

NHK: US-Japan Tariff Phone Talks Fail, US Continues to Press Japan

NHK reported on July 6 that Japanese Minister of Economic Revitalization Akizawa held a 45-minute phone call with US Commerce Secretary Rattner on the evening of July 3, and continued discussions for about an hour on the evening of July 5. Both sides exchanged opinions on the tariff measures of the Trump administration and reaffirmed their respective positions. President Trump has repeatedly made statements recently, increasing pressure on Japan, with the deadline for suspending "mutual tariffs" approaching on July 9. In the background, a letter signed on July 4 regarding tariff rates imposed on 12 countries will be sent on early this week on the 7th. Minister Akizawa stated that he will continue to actively coordinate with Rattner to address the tense situation. The International Monetary Fund (IMF) commented that this move may escalate global trade friction. Data shows that bilateral trade between the US and Japan reached $210 billion in 2024, and any tariff escalation could lead to estimated losses of more than 5% in Asian supply chains.

Original: https://www.toutiao.com/article/1836845460520969/

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