Japan's Economy Minister Ryosei Akazawa met with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington for 130 minutes in a fourth round of the trade negotiations.
The U.S. side, led by Bessent and Lutnick, called Friday’s talks “frank and constructive.”
Japan faces a 24% tariff rate starting in July unless it can negotiate a deal with the U.S. It is also scrambling to find ways to get Washington to exempt its automakers from 25% tariffs on automobiles, Japan's biggest industry.
“If our requests to do that are met, we may be able to come to an agreement,“ Akazawa told Japanese media gathered at the Japanese embassy in Washington. “But if that is not possible, then it will be difficult for us to agree to a deal.”
Akazawa declined to give details of the latest discussions, but said trade expansion, non-tariff barriers and cooperation in economic security have been on the agenda at every meeting.
He also said, while he was closely monitoring Nippon Steel's possible deal for U.S. Steel, he could not yet comment on it due to a lack of any official announcement from the U.S. government.
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