Treasury Secretary Scott Bessent announced Monday that the U.S. will begin trade negotiations with Japan, following President Trump’s phone call with Japanese Prime Minister Shigeru Ishiba.
“@POTUS @realDonaldTrump has tasked me and @USTradeRep to open negotiations to implement the President’s vision for the new Golden Age of Global Trade,” Bessent wrote on X. Trump added that “tough but fair parameters” are being set and criticized Japan’s trade practices, saying “they don’t take our cars, but we take MILLIONS of theirs.”
Trump has imposed a 25% tariff on auto imports and a 24% tariff on all Japanese goods, which have significantly impacted Japan’s export-reliant economy.
A readout from Ishiba’s office expressed “strong concerns” that U.S. tariffs could weaken Japanese investment capacity, emphasizing Japan’s role as the largest investor in the U.S. over the past five years. Ishiba called for “broader cooperation” and urged a reconsideration of the tariffs.
Both leaders agreed to continue candid discussions aimed at strengthening bilateral economic ties.
Sources:
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