financetom
Business
financetom
/
Business
/
Japan's Ishiba signals increasing corn imports as part of US trade talks
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Ishiba signals increasing corn imports as part of US trade talks
May 26, 2025 5:35 AM

TOKYO (Reuters) - Japanese Prime Minister Shigeru Ishiba on Monday signalled that increasing corn imports from the U.S. would be among options in trade negotiations with Washington.

Speaking in parliament, Ishiba repeated that Japan won't sacrifice the domestic agriculture industry for the sake of winning U.S. tariff concessions for automobiles.

"Still, Japan can use corn not for consumption but for use as ethanol fuel. Usage as biomass would be in Japan's national interest," Ishiba said, adding that Japanese soil was not necessarily suited for corn production anyway.

"We hope to deepen discussion on whether to use corn for consumption or energy," Ishiba said without elaborating.

The U.S. exported $2.8 billion worth of corn to Japan in 2024, to counter an 80% drop in exports to China.

Japan has made little headway in trade talks with the U.S. as it seeks exemptions from U.S. tariffs, including on its mainstay automobiles.

Japan's top trade negotiator, Ryosei Akazawa, made his second visit to Washington earlier this month with working-level consultations between the two countries now under way.

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.

The tariffs, including a 25% tariff on imported cars, are already weighing heavily on the Japanese economy.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What's Going On With Rigetti Computing (RGTI) Stock?
What's Going On With Rigetti Computing (RGTI) Stock?
Jan 13, 2025
Shares of Rigetti Computing Inc ( RGTI ) are down 22% Monday morning and have plummeted approximately 54% to $7.28 since Wednesday's open. Nvidia CEO Jensen Huang's and Meta Platforms CEO Mark Zuckerberg’s recent comments have raised doubts about the near-term viability of quantum computing. What Happened: During Nvidia's analyst day, Huang suggested that practical quantum computers are still 15...
Illumina, Nvidia Collaborate on Multiomics to Advance Genomics AI, Drug Discovery
Illumina, Nvidia Collaborate on Multiomics to Advance Genomics AI, Drug Discovery
Jan 13, 2025
10:59 AM EST, 01/13/2025 (MT Newswires) -- Illumina ( ILMN ) said Monday it will combine its sequencing technologies and connected software with Nvidia's ( NVDA ) artificial intelligence tools to analyze and interpret large amounts of multiomic data to advance clinical research, genomics AI development, and drug discovery. Initially, Illumina ( ILMN ) said it will work to make...
Sonos Announces CEO Transition: The Details (CORRECTED)
Sonos Announces CEO Transition: The Details (CORRECTED)
Jan 13, 2025
Editor’s note: The headline of this story has been corrected to remove an error around Sonos ( SONO ) price action Monday morning. Sonos Inc ( SONO ) shares are trading lower Monday after the company announced a CEO transition. What Happened: Sonos ( SONO ) on Monday announced that Patrick Spence will step down from his role as CEO...
Personalis Says Study Shows NeXT Personal Test's 'High Sensitivity' for Lung Cancer Detection
Personalis Says Study Shows NeXT Personal Test's 'High Sensitivity' for Lung Cancer Detection
Jan 13, 2025
10:57 AM EST, 01/13/2025 (MT Newswires) -- Personalis ( PSNL ) said a study showed the high sensitivity of its NeXT Personal test for detecting early-stage non-small cell lung cancer. Preoperative blood samples from 171 patients were analyzed using NeXT Personal, which aims to detect small traces of circulating tumor DNA in the blood of cancer patients and survivors, the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved