Japan Pursues US Trade Compromising
(MENAFN) Japan’s chief trade negotiator, Ryosei Akazawa, stated on Tuesday that the country is aiming to establish a mutually satisfactory “landing point” in ongoing trade discussions with the United States, while maintaining its own national priorities, as per an official statement.
This declaration was made during his meeting with US Commerce Secretary Howard Lutnick in Washington.
According to the statement, "Both sides engaged in another frank and in-depth discussion to realize a mutually beneficial agreement for both Japan and the United States."
Akazawa, who also serves as the minister responsible for economic revitalization, is in Washington for the eighth round of negotiations.
His arrival came shortly after national elections in Japan resulted in Prime Minister Shigeru Ishiba’s Liberal Democratic Party-led coalition losing its majority in the upper house.
So far, the US and Japan have engaged in multiple rounds of discussions, including three direct phone calls between President Donald Trump and Prime Minister Ishiba.
Earlier on Tuesday, Akazawa expressed his intent to finalize a deal with the US before reciprocal tariffs are implemented on August 1, as reported by a Japanese news agency.
“I believe that both Japan and the United States have a desire to reach some kind of agreement by then,” he said, referring to the looming deadline for a suspension on Trump’s proposed reciprocal tariffs.
On the US side, Treasury Secretary Scott Bessent told a news outlet that the Trump administration prioritizes “high-quality deals” and emphasized, “we’re not going to rush for the sake of doing deals.”
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