US, Japan Prepare for Tariff Talks
(MENAFN) Senior representatives from the United States and Japan are scheduled to convene this week to discuss trade and tariff issues as both nations aim to reinforce their economic partnership.
Currently, the trade exchange between the two countries amounts to nearly USD228 billion in goods.
The evolving tariff strategies under United States Leader Donald Trump have caused disruptions in international commerce, leading significant trade partners—beginning with the UK earlier this month—to initiate or renew discussions with Washington.
Countries such as China, Japan, and the European Union are anticipated to follow suit.
While the US and Japan have already engaged in preliminary negotiations, a definitive agreement has yet to be finalized.
The forthcoming G7 summit in Canada might prove pivotal, especially if this week’s talks do not culminate in a deal.
At the mid-June summit, Trump and Japanese Premier Shigeru Ishiba are expected to hold talks.
The two leaders have previously discussed economic matters during a telephone conversation, according to the Japanese Foreign Ministry.
In comments to the press, Ishiba emphasized Japan’s dedication to working closely with the US to encourage investment and enhance job creation.
Data from the International Trade Center revealed that last year’s total trade volume of goods between the US and Japan was USD227.9 billion.
US exports to Japan were valued at USD79.7 billion, whereas Japanese exports to the US reached USD148.2 billion.
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