Just yesterday, Japan's Minister for Economic Revitalization, Akazawa Ryoichi, was in Washington meeting with U.S. Commerce Secretary Lutnick. This marks the seventh round of ministerial talks, all focused on the high tariff policies of the Trump administration.
My understanding is that Japan is pushing hard for a significant reduction in automobile tariffs, which they clearly view as a critical national interest. This is particularly urgent because the current suspension period for reciprocal tariff increases expires on July 9th. With a Japanese Upper House election just around the corner on the 20th, Akazawa is under immense pressure to secure a favorable outcome.
While the Japanese government described the discussions as "productive," Akazawa didn't speak to the media immediately afterward, which often suggests that major breakthroughs are still elusive. It's a high-stakes negotiation, with both sides trying to coordinate for a "mutually beneficial agreement" under the looming threat of escalated tariffs. I'll be closely tracking the developments as we approach that July 9th deadline.