Japan Makes Progress in US Tariff Talks – Hopes Rise Ahead of G7 Summit

Tokyo – Japan has made notable progress in its fifth round of trade negotiations with the United States, aimed at ending steep tariffs that continue to damage its economy, according to Japan’s chief trade negotiator Ryosei Akazawa.

Akazawa stated that current U.S. tariffs—up to 50% on automobiles and auto parts, along with 10% general tariffs on steel and aluminum—have been causing daily economic losses to Japan.

“We’ve made some progress, although I cannot disclose the details at this stage,” Akazawa said after meetings with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington.

Crucial Timing Before the G7 Summit

This latest round of talks could be the final in-person negotiation between top officials before the G7 Leaders Summit on June 15, where U.S. President Donald Trump is expected to meet with Japanese Prime Minister Shigeru Ishiba.

A new 24% tariff rate on Japanese exports is set to begin in July unless a bilateral deal is reached soon.

Japan Proposes Strategic Cooperation Measures

In a bid to resolve the tariff dispute, Japan has put several options on the table, including:

Increasing agricultural imports from the U.S.

Collaborating on defense equipment and shipbuilding technology

Revising automobile import standards

Introducing a mechanism to reduce auto tariffs based on a country’s contribution to the U.S. auto industry

Akazawa emphasized Japan’s proactive stance:

“We want an agreement as soon as possible, especially with the G7 summit approaching. Still, we must strike a balance between urgency and protecting our national interests.”

A Firm Stance: Current Tariffs Are "Unacceptable"

Despite ongoing talks, Japan remains firm in its position: the current tariffs are unacceptable. Tokyo is intensifying its diplomatic and economic efforts to safeguard its industries from punitive U.S. trade measures.

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