Japanese PM Claims Failure to Reach Trade Agreement with US
Japanese Prime Minister (PM) Shigeru Ishiba stated that negotiations for a trade agreement with United States (US) President Donald Trump ended in failure.
“There are several things that have not yet been agreed upon by both parties, so we have not been able to reach a trade package agreement,” Ishiba said as quoted by Bloomberg on Tuesday (06/17).
This was stated by Ishiba amid the G-7 summit bilateral meeting, raising concerns for the Japanese government about the potential recession due to US tariffs.
Nevertheless, Ishiba said that Japan will continue to engage in active discussions with the US to achieve a mutually beneficial trade agreement. Especially after import tariffs on cars reached 25%, which is a significant blow to Japan's main exports.
“We will continue to coordinate actively with the US to reach an agreement that is mutually beneficial, without sacrificing Japan's national interests,” he continued.
In addition, the main focus of the Japanese government's negotiations currently lies on car tariffs, which Trump had threatened to increase again.
