financetom
Economy
financetom
/
Economy
/
Japan's Ishiba signals talks with Trump for early cut to US auto tariff
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Ishiba signals talks with Trump for early cut to US auto tariff
Aug 3, 2025 11:18 PM

TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba said on Monday he will not hesitate to hold talks with President Donald Trump to ensure an agreed cut to U.S. automobile tariffs is implemented soon.

In a parliament session on Monday, Ishiba drew criticism from some opposition lawmakers for not having signed an official document with the U.S. in clinching a trade deal last month.

"Creating a document could have delayed the timing of tariff cuts. That was our biggest fear," Ishiba said, defending Japan's decision to agree on a deal without creating an official document with the U.S.

"He is not a typical counterpart and could overturn rules," Ishiba said on Trump's negotiating style.

Ishiba said he had "absolutely no hesitation" to hold talks with Trump to have Washington execute the tariff cut soon, though he declined to comment on when such talks could take place.

"Both countries will begin executing what was agreed upon, which is harder than agreeing on a deal," Ishiba said, signaling his intention to stay on as premier to see through the process.

Ishiba is under pressure from within his ruling Liberal Democratic Party to step down as prime minister to take responsibility for the party's huge defeat in last month's upper-house election.

Japan's trade deal struck with Trump last month lowers U.S. tariffs on imports of goods including automobiles, easing the pain for the export-reliant economy.

But there is no clarity on when U.S. tariffs for automobiles and auto parts will be cut to 15% from the current 25%, clouding the outlook for Japan's fragile recovery.

In the same parliament session, Japan's top trade negotiator, Ryosei Akazawa, said it was hard to say how soon the U.S. could actually implement automobile tariffs, though he added it took "more than a month" in the case of Britain.

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 30-year mortgage rate jumps to 6.36%, biggest weekly gain in 15 months
US 30-year mortgage rate jumps to 6.36%, biggest weekly gain in 15 months
Oct 10, 2024
(Reuters) - The interest rate for the most popular U.S. home loan rose to 6.36% last week, marking the biggest weekly increase in more than a year after better-than-expected economic data caused financial markets to scale back bets on further Federal Reserve interest-rate cuts. The average contract rate on a 30-year fixed-rate mortgage rose 22 basis points in the week...
CBO estimates $1.8 trillion US deficit for fiscal 2024
CBO estimates $1.8 trillion US deficit for fiscal 2024
Oct 10, 2024
WASHINGTON, Oct 8 (Reuters) - The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays rose for Social Security, Medicare and health insurance tax credits. The estimate, which precedes the U.S. Treasury Department's year-end budget report later this month,...
Fed's Logan calls for 'gradual' rate cuts, says 'should not rush'
Fed's Logan calls for 'gradual' rate cuts, says 'should not rush'
Oct 10, 2024
(Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Wednesday said she supported last month's outsized interest-rate cut but wants smaller reductions ahead, given still real upside risks to inflation and meaningful uncertainties over the economic outlook. Following last month's half-percentage-point cut in the fed funds rate, a more gradual path back to a normal policy stance will likely...
Fed's Logan calls for 'gradual' rate cuts, says 'should not rush'
Fed's Logan calls for 'gradual' rate cuts, says 'should not rush'
Oct 10, 2024
(Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Wednesday said she supported last month's outsized interest-rate cut but wants smaller reductions ahead, given still real upside risks to inflation and meaningful uncertainties over the economic outlook. Following last month's half-percentage-point cut in the fed funds rate, a more gradual path back to a normal policy stance will likely...
Copyright 2023-2025 - www.financetom.com All Rights Reserved