Japanese Prime Minister Shigeru Ishiba has stated that Japan will not make significant concessions nor rush into an agreement in its upcoming trade negotiations with the United States. The talks, beginning Thursday in Washington, come amid US-imposed tariffs — including a 25% duty on Japanese cars, a major export sector for the country.
While Ishiba ruled out retaliatory tariffs, he emphasised the need to understand the rationale and sentiment behind the US stance. Bank of Japan Governor Kazuo Ueda warned the US tariffs could negatively impact both Japan and the global economy.
Currency policy is also expected to feature in discussions, with the US alleging Japan is keeping the yen weak to gain trade advantages. The yen recently strengthened to ¥142.62 against the dollar, partly due to a broader dollar decline. Monetary policy implications remain complex, as Japan weighs interest rate adjustments to balance currency stability with inflation control.
Economy Minister Ryosei Akazawa and Finance Minister Katsunobu Kato will lead Japan’s negotiations. Domestically, lawmakers have called for economic relief measures as living costs rise under the pressure of tariffs and a weak yen.–REUTERS
