Photo/Illutration Ryosei Akazawa, right, participates in Japan-U.S. talks on tariffs in Washington, D.C., on May 1. (Pool)

Prime Minister Shigeru Ishiba said he isn't rushing to conclude tariff negotations with the Trump administration if the deal isn't an agreeable one for Japan. 

Ishiba talked to reporters on May 2 after being briefed on the second round of talks from Japan's representative Ryosei Akazawa. 

Regarding the prospect of negotiations between the two countries reaching a conclusion, Ishiba said, “It is not a matter of concluding the agreement quickly, if it comes at the expense of Japan’s national interests.”

He added, “It is a matter of (both countries) making the utmost efforts, and I don't think I should mention the timing.”

Ishiba said, “we are not yet in a situation where we can find a point of agreement” between Japan and the United States.

“However, I was informed that the discussions were very positive and constructive,” he added.  

Akazawa, the minister in charge of economic revitalization, visited the United States for ministerial-level talks on tariff measures set by President Donald Trump.

Japan-U.S. tariff talks at the ministerial level were held at the U.S. Treasury Department on May 1. 

During the talks, Akazawa told the U.S. side that the tariff measures are “regrettable” and reiterated Japan’s request for a review.

The U.S. side was represented by Treasury Secretary Scott Bessent who is leading the external tariff negotiations, Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.

The two countries agreed to hold intensive discussions at the ministerial level again after mid-May after starting administrative-level talks on May 2 based on this latest exchange.

At a news conference following the exchange, Akazawa was asked if he sees Ishiba and Trump reaching an agreement in June.

“I hope we can get to that stage,” he said.

During the closed-door talks that lasted two hours and 10 minutes, “We were able to have very in-depth discussions,” Akazawa said.

According to Japan's trade representative, three points were covered in detail: expansion of trade between the two countries, non-tariff measures and, lastly, economic security cooperation.

“In reporting the results of the discussions to the leaders, there will be a time to go through the process to see if there are any areas that have not been fully discussed or if there are any omissions,” Akazawa said. 

The minister's strategy going into the meeting was to carefully assess the U.S. side’s demands along with preparing a negotiating card involving measures to ease "non-tariff barriers" that the American side considers problematic.

Akazawa said that there were no discussions on defense security or the foreign currency exchange rate between Japan and the United States.

Related News