On Wednesday, April 16, the United States and Japan initiated tariff negotiations. President Trump stated that the talks had made “significant progress.”
In a surprise move on Wednesday morning, President Trump announced that he would personally participate in the tariff talks with Japanese officials. Later that day, Trump wrote on “Truth Social,” saying, “Very honored to have just met with the Japanese trade delegation. Big progress!”
The President did not disclose any details of the negotiations.
Japan’s chief negotiator is Minister of Economic Revitalization Ryosei Akazawa. Initially, the talks were expected to focus on trade and investment issues. However, earlier on Wednesday, Trump indicated that discussions would also include issues such as how much Tokyo pays for the presence of US forces in Japan.
The largest overseas military deployment of the United States is located in Japan.
Earlier in the day, Akazawa posted on “Truth Social,” stating, “Today, Japan will negotiate on tariffs, military support costs, and ‘fair trade.'”
“I will participate in this meeting along with the US Secretary of the Treasury and the US Secretary of Commerce. Hoping to reach a beneficial agreement for both Japan and the United States (very good!)”
Scott Bessent, the US Secretary of the Treasury, and Howard Lutnick, the US Secretary of Commerce, along with other officials, attended the meeting.
The specific details of the US-Japan talks on Wednesday are still unclear.
Bessent expressed his hopes to reach an agreement covering tariffs, non-tariff barriers, and exchange rates, but Japan prefers to address the exchange rate issue separately.
He also mentioned that Japan might invest billions of dollars in a natural gas project in Alaska, which could also be a focus of the negotiations.
Before his departure, Akazawa stated that Japan’s commitment to expanding investments in the US would help persuade the US that both countries could achieve a “win-win” situation without tariffs. “Our goal is for the US to completely cancel the imposed tariffs, which affect Japanese businesses’ profits every day,” he said.
Since April 2, when Trump announced imposing reciprocal tariffs on dozens of trading partners, Japan has been among the first countries to engage in face-to-face negotiations. Japan is facing a 24% reciprocal tariff, with the current tariff implementation postponed for 90 days.
Japan also faces an already effective 10% base tariff and a 25% automobile tariff, with cars being a cornerstone of Japan’s export-dependent economy.
Bessent noted that over 75 countries have requested negotiations, giving Japan a “first-mover advantage.”
Japanese Prime Minister Shigeru Ishiba stated on Monday that as a close ally of the US, Japan would not rush to reach an agreement, nor make significant concessions.
On April 13, Policy Chief of the ruling party Itsunori Onodera ruled out Japan using the sale of its substantial holdings of US treasury bonds as leverage in bilateral trade negotiations. According to data from the US Treasury, Japan is the largest holder of US treasuries outside the US.
“As an ally of the United States, the government of Japan should not consider deliberately leveraging US treasuries (for retaliation),” Onodera said on a program aired on Japan’s NHK on Sunday.
Last week, Bessent also met with the Deputy Prime Minister of Vietnam to discuss trade issues and invited the Finance Minister of South Korea for talks in the United States next week. Italian Prime Minister Georgia Meloni is scheduled to meet with Trump at the White House on Thursday to discuss tariff issues.
(Some parts of this article were referenced from Reuters.)