Japan says its economic importance more clear to US in tariff talks

TOKYO - The United States is increasingly recognising the importance of Japan for its economy, the Asian country’s chief tariff negotiator said on May 23 after holding another round of talks with US Cabinet members aimed at an early trade deal.

Mr Ryosei Akazawa said he was able to hold “more frank and in-depth discussions” than previously with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington, adding it would be “very desirable” for their leaders to reach some kind of agreement in June.

Mr Akazawa said he had discussed trade, non-tariff barriers and economic security separately with the two US Cabinet members.

In a symbolic development, while Mr Akazawa and Mr Greer were engaged in two hours of talks, Mr Trump announced in a social media post that there will be a “planned partnership” between Nippon Steel and United States Steel.

A White House official confirmed that it meant the Japanese steelmaker’s long-blocked plan to buy US Steel had been approved by Mr Trump.

Mr Akazawa suggested that economic security issues, such as those concerning supply chains for strategic goods, are crucial in the tariff talks.

But he and other Japanese officials declined to say whether Nippon Steel’s planned major investment in the iconic but struggling producer was addressed during the meetings.

He said he believes “recognition of the significant contribution that Japan makes to the US economy is deepening” among US officials and both sides agreed to continue close ministerial discussions.

In their third round of bilateral talks, Mr Akazawa said he again strongly urged the removal of additional tariffs imposed on Japan.

Prior to the negotiator’s arrival in Washington, Japanese Prime Minister Shigeru Ishiba said he and Mr Trump had spoken by phone and agreed that the forthcoming talks should be “productive”.

Mr Ishiba