Japanese chief negotiator Ryutaro Akasegawa announced in Washington D.C. on Friday that if an agreement with the United States can be reached in advance, Japan does not necessarily have to wait until next week’s G7 summit in Canada.
Status of Trade Negotiations
Following the fifth round of trade negotiations, which involved US Treasury Secretary Benet and Commerce Secretary Lutnick, Akasegawa reported that the trade talks between the two sides “have made progress.” However, the two parties have yet to reach a consensus on the US plan to reconsider comprehensive tariffs. Japanese Prime Minister Shoichi Nakasone, who will depart for the G7 summit next week, has described the summit as potentially a “milestone” in the negotiations.
Uncertainty Over Agreement Timeline
Akasegawa did not suggest that an agreement between Japan and the US was imminent but indicated that it would occur soon. He emphasized the daily economic damage that tariffs inflict on the Japanese economy. Additionally, he stated that there is currently no scheduled date for the next round of trade talks.
Urgency to Mitigate Tariff Impact
Akasegawa stated, “If tariffs can be adjusted, we definitely do not intend to wait until the G7 summit. The purpose of our negotiations is to stop their impact on the Japanese economy as soon as possible, even for one day, a few hours, or even a second.”
Potential for Further Talks
A Washington – based government official who communicates with the media revealed that before a formal agreement is reached between Japanese officials and US President Trump, there might be further discussions between Japanese representatives and their corresponding US counterparts.
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