(Global Times) "The fifth round of Japan-US tariff negotiations still have no progress." Japan's Asahi Shimbun reported on the 7th that Japan's Minister of Economic Regeneration Ryo Akazawa attended the fifth round of Japan-US tariff negotiations in Washington on June 5 and 6 local time. He said the two sides "has not found a consensus yet", highlighting that the negotiations did not bridge the differences between the two sides.
According to reports, Japan once again strongly demanded that the US government readjust high tariff measures and consult on three main aspects: expanding trade between the two countries, re-examining non-tariff measures, and strengthening economic and security cooperation. After the negotiations ended on the 6th, Ryo Akasawa said, "We have made some progress in the discussions in the direction of reaching an agreement", but he refused to reveal what progress has been made.
According to the US National Review magazine, during the negotiations between Japan and the United States, there were differences between US Treasury Secretary Becent, Commerce Secretary Lutnik and Trade Representative Greer. A source said, "Three cabinet officials once suspended talks with Japan and fierce debate broke out in front of the Japanese delegation." A senior Japanese economic official said: "In the current talks, the three levels of the United States' executives, cabinet officials and the president are disconnected."
After the talks, Ryomasa Akasawa said, "The United States has imposed tariffs on automobiles, auto parts, steel and aluminum, some of which have doubled to 50%, and there are 10% general tariffs. These are causing huge losses to the Japanese economy every day. Japan's position has not changed, and tariffs are unacceptable." Some reports believe that for Japan, the cancellation of tariffs is a prerequisite for Japan to reach an agreement. The Japanese government has proposed plans to expand the import of US agricultural products and rediscuss non-tariff barriers for automobile imports. Japan is also considering working with the United States to strengthen supply chain capabilities for rare earths and other materials.
Regarding whether Japan-US tariff negotiations can reach a consensus as soon as possible, the Japanese News Agency analyzed on the 8th that it is not clear to what extent the differences between Japan and the United States have been bridged, especially the tariffs on automobiles, steel and aluminum that Japan is concerned about. In a recent editorial, Japan's Yomiuri Shimbun said that Japan asked the US to cancel not only "reciprocal tariffs", but also tariffs on automobiles and steel and aluminum. The US's attitude is to maintain a "benchmark tariff" of 10% levied on almost all countries and regions in "reciprocal tariffs", not to mention the issue of additional tariffs for automobiles and other industries.
According to Reuters, the talks may be the last face-to-face meeting between senior Japanese and American officials ahead of the G7 leaders' summit in Canada in mid-June. The website of the Japan Broadcasting Association reported on the 7th that Japanese Prime Minister Shigeru Ishiba said that he would hold talks with Trump during the G7 summit on the same day. "If we can make certain progress before that, it is the best, but if we cannot, we are not in a hurry to reach an agreement at the expense of national interests." (Meng Ming)▲
