Trump said a tariff agreement with Japan is close, and Japan wants to expand imports of American agricultural products.
On local time April 25th, US President Donald Trump told reporters at the White House: "Our relationship with Japan is very good. We are very close to an agreement." He expressed his view that the negotiations are making progress. Meanwhile, Japan is considering expanding imports of American corn and soybeans as a replacement for China in the midst of the Sino-US trade near interruption, using this as leverage in the tariff talks to try to get the United States to reduce or eliminate additional tariffs on Japanese products.
Trump did not mention the basis for the nearing agreement or specific negotiation details.
Regarding the Japan-US tariff issue, the second round of ministerial-level negotiations between Japan's Minister of Economic Revitalization Akira Arazawa and US Treasury Secretary Beasant and others is expected to take place in Washington on May 1st according to Japan time.
Akira Arazawa stated on April 25th (Japan time): "We will strive to reach an agreement that is win-win for both Japan and the United States. We want to discuss with the US side how they can accept this direction."
Meanwhile, Japan plans to increase imports of American soybeans and corn in the context of the Sino-US tariff standoff, making contributions to the United States.
More than half of American soybean exports were originally destined for China, but due to the Sino-US trade friction, American soybeans have lost the Chinese export market.
Regarding these two crops, Shinjiro Mori, the representative figure of the Liberal Democratic Party's Agricultural and Forestry Fisheries Group and Chief Cabinet Secretary, expressed understanding of the proposal to expand imports of American soybeans and corn.
On April 25th, when Shinjiro Mori met with Agriculture, Forestry and Fisheries Minister Taku Eto, he submitted a resolution from the LDP caucus, clearly stating: "We absolutely cannot accept a negotiating stance that sacrifices agricultural, forestry, and fishery products." However, he showed understanding of the proposal to expand imports of American corn as a bargaining chip.
On April 25th, he told reporters: "Unfortunately, corn production in our country cannot keep up with demand, so increasing imports from the United States is not a problem." Additionally, regarding the expansion of imports of American soybeans, he said: "We can slightly increase them, or use some as clean energy, which we can cooperate on," showing willingness to accept.
Japan also plans to add a new exclusive quota of approximately 70,000 tons for the United States within the framework of the rice "minimum access (MA)" system to respond to President Trump's claim about Japan setting high import tariffs on agricultural products.
In addition, according to Reuters, the US Trade Representative's Office (USTR) is currently discussing with countries including Japan to explore alternative solutions such as reducing or eliminating tariffs on the current 10% "parity tariff" imposed on almost all countries.
Source: https://www.toutiao.com/article/1830520991833159/
Disclaimer: The article only represents the author's personal views.