Latest news with #EconomicRevitalization
Bloomberg
10 hours ago
- Business
- Bloomberg
Japan Won't Fixate on July 9 in US Trade Talks, Akazawa Says
Japan won't fixate on the looming date that could see so-called reciprocal tariffs rise in its ongoing trade negotiations with the US, Tokyo's top negotiator said, signaling the Asian nation stands ready for the possibility that the talks will drag on. 'To avoid any misunderstanding, I would like to confirm that I have not said at all that July 9 is the deadline for negotiations between Japan and the US,' Economic Revitalization Minister Ryosei Akazawa told reporters on Friday in Tokyo. 'Japan and the US are in regular communication through various channels, and we will continue to consider what is most effective and engage in appropriate consultations.'
Japan Forward
3 days ago
- Automotive
- Japan Forward
G7 Spotlight: Ishiba Urges Trump to Ease Tariffs
このページを 日本語 で読む In Kananaskis, on the border of Banff National Park in the Canadian Rockies, Shigeru Ishiba met with United States President Donald Trump for 30 minutes on June 16. Their meeting took place on the side of the Group of Seven (G7) summit. Among the topics the two leaders discussed was the possibility of revising the high tariff measures imposed by the US administration. Following the meeting, Prime Minister Ishiba told the accompanying press corps that he would "continue to push forward with vigorous negotiations aimed at reaching an agreement that benefits both Japan and the United States." However, he added that it would be "difficult" to predict when such an agreement might be reached. When asked about the current status of the talks, Ishiba indicated that the negotiations remain challenging. "It's not something to be discussed until the negotiations are fully concluded." A major sticking point is the 25% additional tariffs on automobiles, an industry both countries regard as vital. Japan is pushing for these tariffs to be eliminated. However, the US side has shown little willingness to compromise, making a breakthrough at the summit unlikely. Prime Minister Shigeru Ishiba answers reporters' questions after his meeting with US President Donald Trump. Minister in Charge of Economic Revitalization, Ryosei Akazawa, is on the left. June 16, Kananaskis, western Canada (Pool photo / Kyodo News). Moving forward, the key question is whether the two sides managed to find any common ground. Potential areas of agreement include lowering the tariff rate and reducing the 24% reciprocal tariffs currently imposed on Japan, or extending the suspension period. Ishiba emphasized, also emphasized the importance of the auto sector. "Automobiles represent a major national interest.," he said. "We will do everything in our power to defend that interest." The prime minister also revealed that both sides had agreed to continue ministerial-level talks. These discussions will involve the Minister in Charge of Economic Revitalization, Ryosei Akazawa, and US Treasury Secretary Scott Bessent, with the aim of advancing negotiations beyond the summit. (Read a related article in Japanese here .) Author: The Sankei Shimbun このページを 日本語 で読む
NHK
02-06-2025
- Business
- NHK
Japan government arranging for chief negotiator trip to US for tariff talks
Japan's government is arranging for the country's chief tariff negotiator to travel to the United States for the third straight week starting Thursday. This would be Economic Revitalization Minister Akazawa Ryosei's fifth trip to Washington for ministerial tariff talks. Akazawa said he will have thorough discussions with his US counterparts and do everything he can to pave the way for a deal. The minister said Japan cannot afford further delays, as the auto sector, a pillar of the nation's economy, started suffering losses. He said the fastest way to resolve the situation is for US President Donald Trump's administration to review the tariffs it imposed on Japan. The Japanese government is exploring negotiation strategies in a bid to pave the way for the two countries' leaders to strike a deal on the sidelines of the Group of Seven summit in Canada in mid-June. Officials, however, said they are committed to prioritizing national interests. Akazawa said he would "make haste slowly." A senior foreign ministry official said the summit could mark a milestone, but it is not a deadline.
02-06-2025
- Business
Timeline for May 2025
The Bank of Japan decides at its policy meeting to keep its short-term interest rate at 0.5%. Due to the impact of tariffs imposed by US President Donald Trump, it also significantly revises downward its economic growth forecast for this fiscal year. After the second round of negotiations over tariffs between Japan and the United States is held in Washington, Minister for Economic Revitalization Akazawa Ryōsei says that discussions went further in-depth concerning trade expansion, nontariff barriers, and economic security. From right, Minister for Economic Revitalization Akazawa Ryōsei and US representatives Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer line up for a photograph during Japan-US tariff negotiations in Washington DC on May 1, 2025. (© Jiji) 2 A search team discovers a body inside the truck that fell into a sinkhole that suddenly opened on a road in Yashio, Saitama, in January. The body is removed from the sewage network and brought to the surface. 3 A man is arrested by Kanagawa police after the body of a woman who was his former girlfriend is found in his house in Kawasaki. The woman's family criticizes the police for failing to respond appropriately. 4 The Ministry of Internal Affairs and Communications announces that Japan's child population aged under 15 as of April 1, including foreign residents, is 13.7 million, after a decrease of 350,000 year on year. This is the forty-fourth straight year that the number has fallen. 6 The J-pop group Arashi announces that it will disband after its 2026 concert tour. 8 Toyota forecasts a 34.9% drop in its net profit to ¥3.1 trillion in the current fiscal year, due in part to the impact of the Trump tariffs. 9 House of Councillors lawmaker Nishida Shōji of the Liberal Democratic Party retracts his comment criticizing the Himeyuri Cenotaph that commemorates student nurses who died during the Battle of Okinawa as 'rewriting history,' saying that it was highly inappropriate. However, he says that his opinion has not changed. On May 16, the Okinawa Prefectural Assembly passes a resolution protesting his comment as an insult to the war dead. 10 A Buddhist statue, stolen in 2012 from the temple Kannonji in Tsushima, Nagasaki, and taken to South Korea, is returned to the temple. 12 A 15-year-old boy is arrested on suspicion that he killed an 84-year-old woman who was stabbed to death the previous day in the city of Chiba. 13 After posting a huge net loss for fiscal 2024 of ¥671 billion, Nissan announces plans to close seven factories and cut 20,000 jobs. A research team identifies a fossil found in Mifune, Kumamoto, around 30 years ago as a new kind of pterosaur, the first to be discovered in Japan. Its scientific name is Nipponopterus mifunensis . 15 The combined net profit of Japan's big three megabanks hits a record ¥3.9 trillion for fiscal 2024, due partly to higher interest rates. 16 Japan's Diet passes a new active cyberdefense bill, making it possible for the government to monitor internet communications to prevent attacks. The Japan Meteorological Agency announces that Southern Kyūshū has entered the rainy season. This is 23 days earlier than in 2024 and 14 days earlier than average. It is the first time for an area other than Okinawa and Amami Ōshima to enter rainy season first since records began 62 years ago. 18 Princess Aiko goes to the Noto Peninsula in Ishikawa Prefecture for two days until May 19, in her first official visit to a disaster-hit area. Princess Aiko talks to residents of Shika on the Noto Peninsula on May 19, 2025. (© Jiji; pool photo) 20 Tokyo Governor Koike Yuriko announces that the metropolitan government will waive basic water supply charges for all ordinary households for around four months this summer as a measure against the effects of inflation. The overall reduction in utility bills aims to free up funds for the use of air conditioning to reduce incidences of heatstroke. 21 Minister of Agriculture, Forestry, and Fisheries Etō Taku resigns after a gaffe in which he said he had never bought rice because his supporters give it to him. He is succeeded by Koizumi Shinjirō. 22 At the inaugural Music Awards Japan, the musical act Creepy Nuts wins nine awards, including Song of the Year for 'Bling-Bang-Bang-Born.' The members of Creepy Nuts show big smiles after winning the Song of the Year award at Rohm Theater in Kyoto on May 22, 2025. (© Jiji) 23 After the third round of negotiations over tariffs between Japan and the United States is held in Washington, Minister for Economic Revitalization Akazawa states that it was possible to have franker and more in-depth discussions than on the previous occasion. The two sides are targeting an agreement before the next Group of Seven summit in June. President Trump announces his backing for a 'planned partnership' between Nippon Steel and US Steel on social media, claiming that the huge investment will create 70,000 jobs and add $14 billion to the US economy. 26 New Minister of Agriculture, Forestry, and Fisheries Koizumi announces the sale of 300,000 tons of stockpiled rice on no-bid contracts at prices around half of winning bids at previous auctions, in an attempt to bring down soaring rice prices. The ministry begins accepting applications from major retailers on the same day. 28 The Japan Sumō Association board decides unanimously to promote rikishi Ōnosato to the rank of yokozuna . He is the first Japanese-born wrestler to become yokozuna since 2017, when the title went to Kisenosato, who is now Ōnosato's stablemaster under the name Nishinoseki. Ōnosato (center) holds two celebratory sea breams in Tsukuba, Ibaraki, on May 25, 2025, after winning the summer tournament. (© Jiji) 29 Tsutsui Yoshinobu becomes the new chair of Keidanren shortly after leaving his position as chairman of Nippon Life Insurance. He is the first representative of the finance world to head the business organization. 30 After the fourth round of negotiations over tariffs between Japan and the United States is held in Washington, Minister for Economic Revitalization Akazawa says that the two sides have confirmed each other's positions and are working toward an agreement. The Imperial Household Agency announces that Komuro Mako—formerly Princess Mako—has given birth to a child. It is unclear when the child was born and if it is a boy or girl. (Originally published in Japanese. Banner photo: Minister of Agriculture, Forestry, and Fisheries Koizumi Shinjirō inspects the rice on sale at a Tokyo supermarket on May 23, 2025. © Jiji.)
NHK
13-05-2025
- Business
- NHK
Japan to analyze US-China trade deal ahead of next round of tariff talks
The Japanese government plans to analyze the latest US-China trade deal to prepare for its third round of tariff talks with the United States. Prime Minister Ishiba Shigeru told the Diet on Monday that Japan will seek an agreement with the US that will serve the national interests of both sides. Ishiba said each country has its own strong and weak sectors, and it is important for Japan and the US to cooperate for a better result. Japan's tariff negotiator, Economic Revitalization Minister Akazawa Ryosei, said Japan will protect what it needs to protect in negotiating with the US. He said the government will go all-out in unity and continue giving top priority to the negotiations in order to obtain a deal with maximum benefits for Japan. Under the US-China deal, both sides will cut their additional tariffs by 115 percentage points. The agreement was announced on Monday following high-level trade talks in Switzerland. Some Japanese government officials say the deal should be welcomed if it results in calming financial markets. Some are also guessing that Washington might be shifting its policy after seeing the impact of the tariffs on the US economy. The government plans to scope out the US strategies for the trade talks, by studying the agreement with China, as well as an earlier US deal with Britain.
