Japan Seeks Tariff Relief via Deal with U.S.
(MENAFN) Japan is preparing to present a collaborative proposal to the United States, concentrating on rare earth minerals and liquefied natural gas (LNG), according to a Thursday report by a newspaper.
This initiative is part of broader negotiations on tariffs and is intended to bolster critical supply networks strained by escalating geopolitical friction between the U.S. and China.
China has enacted limitations on the export of seven essential rare earth minerals and halted LNG imports from the U.S.
In response, Japan aims to mitigate the fallout from these restrictions by offering support, with the hope of gaining some flexibility or exemptions from U.S. tariff policies.
On Thursday, Japan’s leading tariff envoy, Economic Revitalization Minister Ryosei Akazawa, traveled to Washington for the fifth session of discussions centered on U.S. Leader Donald Trump’s trade tariff policies, a news agency reported.
“We'll continue to strongly urge the United States to review the series of tariff measures,” Akazawa stated prior to departing Tokyo.
Akazawa’s trip is scheduled to last four days and represents his third visit to the U.S. in as many weeks.
The mission is designed to fast-track negotiations before a potential meeting between Japanese Premier Shigeru Ishiba and President Trump, expected to occur on the margins of the Group of Seven (G7) summit in Canada in mid-June.
He noted that details of his meetings in Washington are still being coordinated.
Japan has persistently requested the U.S. to abolish a 25 percent import levy on automobiles.
Although a reciprocal 24 percent tariff has been temporarily set aside, the U.S. continues to impose a 10 percent standard tariff as well as additional duties on steel and aluminum products.
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