Japan tariff envoy seeks US action on trade deal

Japan Tariff Envoy Heads To US After Cancellation • Channels Television

Japan’s tariff envoy, Ryosei Akazawa, traveled to Washington on Thursday to urge US President Donald Trump to sign an executive order implementing a recently announced tariff deal. The visit comes after Akazawa abruptly cancelled his previously planned trip last week, citing the need for further working-level discussions between the two countries.

According to Akazawa, it is essential that the US issues an executive order to amend reciprocal tariffs and reduce tariffs on automobiles and automotive parts as soon as possible. This move aims to secure economic security and growth for both Japan and the US. The Japan-US agreement, announced six weeks ago, includes cuts in US tariffs from a threatened 25 percent to 15 percent.

In July, President Trump announced a “massive” trade deal with Japan, which includes reducing levies on Japanese cars from 27.5 percent to 15 percent. However, this reduction has not yet taken effect. Akazawa’s visit is also expected to cover discussions on Trump’s claim that Japan will make investments in the US worth $550 billion, with the US keeping 90 percent of the profits.

The investments are expected to consist mainly of loans and loan guarantees. Additionally, the US has been pressing Japan to reduce its tariffs on agricultural products, including American rice. The presidential order is expected to address these issues, although the details are still being negotiated.

The trip is significant, as it aims to finalize the implementation of the Japan-US trade agreement. The agreement has the potential to boost economic growth and security for both countries. Akazawa’s discussions with US officials will focus on ensuring that the agreement is put into effect as soon as possible, with the aim of reducing tariffs and promoting investment between the two nations.

The US and Japan have been working to finalize the details of the trade agreement, which includes reducing tariffs on various products, including automobiles and agricultural goods. The agreement is expected to have a positive impact on the economies of both countries, and Akazawa’s visit is a crucial step towards its implementation. With the US and Japan being major trading partners, the successful implementation of the agreement will be closely watched by the international community.

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