Speaking to Fox News on Monday, the US Secretary of the Treasury Scott Bessent said that Japan is likely to “get priority” over other nations when it comes to tariff negotiations. Last week, American President Donald Trump announced sweeping tariffs around the world, including a 24% levy on imports from Japan, in addition to the 25% tariffs on all vehicles. Japanese Prime Minister Shigeru Ishiba, who described the taxes as “extremely unfortunate,” is now preparing a team to fly to the US to further discuss the issue. It will be led by his close aide, Ryosei Akazawa, the country’s economic revitalization minister.
Trump and his negotiating team, which will be spearheaded by Bessent and Trade Representative Jamieson Greer, will take a lot of persuading. “Countries from all over the world are talking to us,” posted the US president on Truth Social on Monday. “Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate!” He added that Japan has “treated the U.S. very poorly on trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise, agriculture and many other ‘things.’”
Ishiba Urges Trump To Reconsider Tariff Policies
Trump posted the message not long after a 25-minute phone call with Ishiba. The two leaders agreed to continue tariff talks, with the Japanese prime minister urging Trump to reconsider the levies imposed on his country. “I’ve told the president that Japan has been the biggest investor in the United States for five straight years and the tariff policies could hurt Japanese companies’ investment capabilities,” Ishiba said to reporters after the call. He added that he was “considering visiting the United States at the most appropriate time to meet with Donald Trump in person.”
Japan has thus far taken a measured approach to Trump’s bombshell reciprocal tariffs’ announcement last week. Prior to his call with the American president, Ishiba made it clear the nation has no intention of engaging in tit-for-tat by imposing retaliatory tariffs. Instead, he hopes to change Trump’s mind by emphasizing Japan’s contribution to the US economy. “While Japan is willing to cooperate in creating jobs in the United States, we also strongly urge the removal or reduction of tariffs to support that effort,” he said.
Trump Hits China With 104% Tariffs
Other nations are taking a different approach, including, most notably, China. After Trump hit the East Asian nation with 34% levies last week, Beijing officials responded with like-for-like measures. The US president then threatened to hit Chinese exports with additional 50% tariffs. On top of his initial vow of 34%, plus the existing 20% levy, it takes the total tariff on Chinese imports to 104%. Beijing, however, has vowed to “fight to the end” if the United States continues to escalate the trade war.
