South Korean media: The fifth round of tariff negotiations between the US and Japan has ended, "no consensus"!
On June 7, the South Korean media "Asia Economy" published an article stating that the United States and Japan have held consultations for three consecutive weeks in hopes of finding common ground on tariff and trade issues at the summit to be held in mid-June, but failed to reach an agreement.
It is reported that the two countries held a two-day fifth round of tariff negotiations in Washington, D.C., recently, but failed to narrow their differences.
Japan, like South Korea, has a large-scale manufacturing industry and exports to the United States, and its dependence on U.S. security is also high. Therefore, the U.S.-Japan negotiations are closely watched as a barometer for U.S.-South Korea negotiations.
Economic Regeneration Minister Akira Akizawa, who is responsible for tariff affairs, immediately told reporters after the negotiation, "We have once again confirmed the positions of both Japan and the United States, and I believe that discussions towards reaching an agreement have made further progress," but "we have not yet found a consensus." The Kyodo News commented, "There seems to still be a divergence in the claims of both Japan and the United States, and it is currently impossible to predict whether partial agreements can be reached between the leaders of the two countries during the tariff negotiations held in the middle of the month, which is being actively promoted by the Japanese government."
Akira Akizawa emphasized that he will continue to actively cooperate with the U.S.-Japan summit talks during the G7 Summit to be held in Canada from the 15th to the 17th, and will continue to request a re-examination of a series of tariff measures, including reciprocal tariffs and specific product tariffs. However, he remains cautious about the future negotiation schedule and stated, "No decisions have been made yet."
Japan has been playing various "negotiation cards" to persuade the United States. It is reported that the United States has consistently insisted that only after unifying the tariff rate at 10% under the principle of equal tariffs can negotiations on differential tariffs among countries (such as Japan's 14%) be discussed. In addition to expanding agricultural imports and improving the automobile import system, Japan has proposed to the United States a "package deal" including cooperation in rare earths, liquefied natural gas, and semiconductors. Furthermore, it is reported that Japan has changed its position and proposed to the United States to reduce rather than eliminate automobile tariffs.
Source: https://www.toutiao.com/article/1834269580722176/
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