financetom
Economy
financetom
/
Economy
/
Japan tariff negotiator arranging seventh US visit, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan tariff negotiator arranging seventh US visit, sources say
Jun 23, 2025 7:04 PM

TOKYO (Reuters) -Japan's tariff negotiator Ryosei Akazawa is arranging his seventh visit to the United States for as early as June 26, aiming to end tariffs that are hurting Japan's economy, two Japanese government sources said on Tuesday.

The main focus of the visit is expected to be on U.S. tariffs imposed on Japanese automobiles, which have a severe impact on the Japanese economy. Akazawa will also meet with Commerce Secretary Howard Lutnick and others who oversee this area, one of the sources said.

The meeting would be the first ministerial-level tariff negotiation since the Japan-U.S. summit held in Canada on June 16.

Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump agreed to push ahead with trade talks when they met in Canada but failed to achieve a tariff deal.

Last month, Japan's trade negotiator said U.S. defence equipment purchases, shipbuilding technology collaboration, a revision of automobile import standards and an increase in agricultural imports could be bargaining chips in tariff talks.

In a bid to reach an agreement with the U.S., Japan is also proposing a mechanism to reduce the auto tariff rate based on how much countries contribute to the U.S. auto industry.

Japan faces a 24% tariff rate starting in July unless it can negotiate a deal with Washington.

(Reporting by Kathleen Benoza, Kaori Kaneko and Yoshifumi Takemoto; Editing by Christopher Cushing and Lincoln Feast.)

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 >
US pending home sales fall more than expected in June
US pending home sales fall more than expected in June
Jul 30, 2025
WASHINGTON (Reuters) -Contracts to buy previously owned U.S. homes dropped more than expected in June, weighed down by higher mortgage rates. The National Association of Realtors said on Wednesday pending home sales, based on signed contracts, fell 0.8% last month. Economists polled by Reuters had forecast contracts, which become sales after a month or two, advancing 0.3%. Pending home sales...
Dozens of right groups call on France's Macron for reparations to Haiti
Dozens of right groups call on France's Macron for reparations to Haiti
Jul 30, 2025
PORT-AU-PRINCE (Reuters) -Over 60 rights groups signed a letter to French President Emmanuel Macron calling for reparations to Haiti over the crippling payments it paid France as compensation for lost property - including slaves - after its independence. The letter dated on Tuesday came as activists in Haiti, which has the lowest GDP per capita in the Americas and is...
Over 60 rights groups call on France's Macron for reparations to Haiti
Over 60 rights groups call on France's Macron for reparations to Haiti
Jul 30, 2025
PORT-AU-PRINCE (Reuters) -Over 60 rights groups signed a letter to French President Emmanuel Macron calling for reparations to Haiti over the crippling payments it paid France as compensation for lost property - including slaves - after its independence. The letter dated on Tuesday came as activists in Haiti, which has the lowest GDP per capita in the Americas and is...
Fed holds rates steady despite Trump's pressure, with two governors dissenting
Fed holds rates steady despite Trump's pressure, with two governors dissenting
Jul 30, 2025
WASHINGTON (Reuters) - The Federal Reserve held interest rates steady on Wednesday in a split decision that gave little indication of when borrowing costs might be lowered and drew dissents from two of the U.S. central bank's governors, both appointees of President Donald Trump who agree with him that monetary policy is too tight. The unemployment rate remains low, and...
Copyright 2023-2026 - www.financetom.com All Rights Reserved