Trump Announces Progress in US, Japan Trade Talks
(MENAFN) Leader Donald Trump stated on Wednesday that significant progress had been made in ongoing discussions between the United States and Japan.
These negotiations are centered on averting hefty tariffs that Trump has previously pledged to enforce on Tokyo.
"A Great Honor to have just met with the Japanese Delegation on Trade.
Big Progress!" Trump wrote in a short social media message following the end of the talks.
Earlier that day, Trump announced his intention to personally join the discussions, which he said would not only focus on trade but also touch on the issue of US defense assistance to Japan and what he referred to as "trade fairness."
According to the White House, numerous countries have been striving to engage with the United States in order to sidestep tariffs exceeding a 10 percent standard rate that Trump introduced earlier this month.
Japan was subjected to a 24 percent duty under Trump’s “reciprocal” tariff approach, although it, along with many other nations, was granted a 90-day reprieve to pursue negotiations.
The 10 percent standard remains in effect during this temporary window.
Even though Trump expressed optimism, it is uncertain whether any substantial agreements were reached during Wednesday’s meeting.
Further information about the private discussion was not immediately provided.
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