Mr. Trump: ‘Tax negotiations with Japan have made great progress’
The US president unexpectedly participated in a preliminary meeting with Japanese trade officials – one of the first countries to start tax negotiations with the United States.
On April 16, US President Donald Trump wrote on the social network Truth Social: “It is honored to meet the Japanese trade negotiation team. However, he did not give in detail the content of the exchange.
Japan is one of the first countries to officially start negotiations with the United States. This will be an early test for Washington’s ready to give in to import tax.
Mr. Trump’s appearance at the meeting was surprised. Earlier, Tokyo did not expect the US president to participate directly in the conversation considered this preliminary, the source of Reuters said. In addition to President Trump, Finance Minister Scott Bessent and Trade Minister Howard Lutnick also attended the meeting.
Responding to the press later, Japanese economic reconstruction minister Ryosei Akazawa – Head of the negotiation team this time – did not disclose much information. He only asserted that the two parties agreed to have the next meeting this month, and Mr. Trump said that agreement with Japan “is currently a top priority”.
The Japanese side also limits the scale of discussion in trade and investment issues. The two sides did not talk about exchange rate issues. The Trump administration regularly complains Japan and the lower currency prices for export advantages. Tokyo has always denied this.
Earlier, Japanese Prime Minister Shigeru Ishiba said he did not rush to reach an agreement with the US and would not give much concession. However, responding to the press in Tokyo later, he was more cautious. “Of course, negotiations will not be easy. But President Trump has confirmed priority to negotiate with Japan,” he said.
Reciprocal taxThe American applied to Japan is 24%. Although this tax has been postponed 90 days, countries are still subject to basic taxes of 10%. Besides, like other countries, Japanese cars are taxed 25% when sold to the US. This is one of the key products of the economy depending on export like Japan.
Bessent said more than 75 countries have proposed negotiations since Mr. Trump announced the reciprocal tax earlier this month. These countries will “have the advantage of the previous one”. Bessent expects to reach agreement with Japan on both import tax, non -tariff barriers and exchange rates.
On April 17, Italian Prime Minister Giorgia Meloni will come to the White House to discuss the US import tax to the European Union (EU). Meanwhile, Mr. Bessent also invited the Korean Finance Minister to Washington next week.
