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Date of Akazawa's visit fluid, depend on staff-level talks

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Japan open to buy more U.S. corn, soy, shipbuilding

cooperation

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Deep gap remains over exemptions to US car, auto parts

tariffs

By Yoshifumi Takemoto

TOKYO, May 15 (Reuters) - Japan's top trade negotiator,

Ryosei Akazawa, could travel to Washington as soon as next week

for a third round of trade talks with the U.S., two sources with

knowledge of the plans told Reuters on Thursday.

The date of his visit was fluid and would depend on how much

progress the two countries can make in narrowing differences in

staff-level negotiations, one of the sources said on condition

of anonymity as he was not authorised to speak publicly.

Japan is considering a package of proposals to gain U.S.

concessions that may include increased imports of U.S. corn and

soy, technical cooperation in shipbuilding, and revision to

inspection standards for imported automobiles, the source said.

There is uncertainty on whether the two sides can iron out

differences over Japan's priority, which is to win exemptions

from U.S. tariffs on automobile and auto parts - the mainstay of

its export-heavy economy.

"We will seek reviews of the range of U.S. tariff measures,

such as those on automobiles, auto parts, steel, aluminium as

well as the reciprocal tariffs, that are deeply regrettable,"

Akazawa, who is also economic revitalisation minister, told a

news conference on Wednesday.

On April 2, U.S. President Donald Trump imposed a 10% tariff

on all countries except Canada, Mexico and China, along with

higher tariff rates for many big trading partners, including

Japan, which faces a 24% tariff rate starting in July unless it

can negotiate a deal with the U.S.

Japanese policymakers and ruling party lawmakers have said

they see no merit in striking a deal with the U.S. unless a 25%

tariff on automobile imports is lifted, given the huge impact

the industry has on Japan's export-heavy economy.

The impact is already evident in Japan's automobile sector.

Mazda ( MZDAF ) reported a 45.1% drop in net profit for the

fiscal year that ended in March, and held off on disclosing

earnings estimates for the current year through March 2026.

During his second visit to Washington on May 1, Akazawa made

a request to U.S. Treasury Secretary Scott Bessent for reviewing

the 25% automobile and auto parts tariffs, though the two sides

could not reach common ground.

While Japan was the first major economy to start bilateral

trade talks with the U.S., Britain was the first to strike a

deal with the Trump administration. China also agreed on a truce

with the U.S. in a de-escalation of trade tensions that led to a

sharp rebound in global stock prices.