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Bloomberg Quint

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Image Credit: Bloomberg Quint

Japan Seeks Possibility Of Trade Deal With US As G-7 Looms

  • Japan is seeking a written agreement from the US to be exempt from additional tariff hikes on sectors like autos.
  • Japan and the US held trade talks ahead of the G-7 summit in Canada.
  • Ryosei Akazawa, Japan’s top trade negotiator, met with US officials for discussions.
  • Japan wants an agreement to avoid additional tariffs on auto imports from the US.
  • Trump suggested raising auto tariffs further, posing challenges for Japanese automakers.
  • Japanese car manufacturers anticipate a significant profit impact due to existing levies.
  • The US administration proposed approval for Nippon Steel Corp.’s purchase of US Steel Corp.
  • Trade progress is seen as a positive sign for US-Japan relations and potential investments.
  • No deadline extension was discussed for imposing reciprocal tariffs in recent talks.
  • Uncertainty remains on the timing of a US-Japan trade deal announcement at the G-7 summit.

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