Trump Joins Key Advisors for Trade Talks with Japan at the White House

President Trump is set to engage in trade negotiations with Japanese officials, addressing tariffs and military support costs. He will be joined by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, as Japan seeks to counteract U.S. tariffs while ensuring its national interests are protected.

President Donald Trump announced he will participate in trade negotiations with Japan at the White House, joining Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The negotiations focus on tariffs and trade relations, especially after Trump paused new global tariffs for 90 days amid recession fears. However, a 10% baseline tariff and 25% tariffs on vehicles and certain exports to the U.S. remain in force.

In response to U.S. tariffs, Japan established a task force to evaluate the economic impact and assist affected companies. Meanwhile, Prime Minister Shigeru Ishiba is advocating for exemptions from tariffs in discussions, although the government’s official stance on potential concessions remains vague.

Japan’s Chief Trade Negotiator Ryosei Akazawa is heading to Washington with the objective of persuading the U.S. to eliminate Trump’s tariffs. He expressed readiness for negotiations and aims to protect Japan’s national interests while building a trusting relationship with U.S. negotiators like Bessent and U.S. Trade Representative Jamieson Greer.

Developing a comprehensive agreement appears challenging as neither side has clearly outlined their demands, particularly regarding trade deficits. Japan argues that tariffs may breach existing trade agreements or WTO rules, contributing to a cautious approach in negotiations.

Additionally, Trump seeks to address military support costs, pressing Japan to increase its defense spending, which currently stands at about 1.8% of GDP. Japan’s strategy includes plans to raise defense expenditures to 2% of GDP by 2027, amidst concerns regarding Trump’s expectations for a 3% increase.

In summary, President Trump’s upcoming negotiations with Japan are centered around tariff discussions and military support costs. Despite the ongoing complexities, both nations appear eager to find a compromise that honors their national interests while stabilizing trade relations in the region. The uncertain demands from both sides highlight the intricate dynamics at play in this high-stakes dialogue.

Original Source: apnews.com