TOKYO: Tokyo's envoy for US tariff talks left for Washington on Wednesday saying he was confident of a “win-win“ outcome while protecting Japanese national interests.
Analysts said the outcome of Ryosei Akazawa's visit could set the template for other countries' negotiations with US President Donald Trump's administration.
“I am confident that we will be able to build a relationship of trust and conduct good negotiations that will lead to a win-win relationship,“ Akazawa, who is economic revitalisation minister, told reporters.
Despite being the biggest investor into the United States, Japan has still been pinched by steep levies imposed by Trump on imports of cars, steel and aluminium.
Trump last week paused his “reciprocal” duty of 24 percent on Japan, along with differing tariffs on most other nations.
Akazawa will meet Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer later Wednesday.
Purchases of US defence hardware and natural gas from Alaska could be on the table during the negotiations, analysts said.
The minister, who studied at a US university and is close to Prime Minister Shigeru Ishiba, said he wants to “protect our national interests” in talks with Bessent and Greer, who are “fond of Japan“.
The Daiwa Institute of Research warned on Wednesday that Trump's reciprocal tariffs could cause a decline of 1.8 percent in Japan's real GDP by 2029.
US officials are also set to hold talks with South Korea and others, but Stephen Innes at SPI Asset Management called the discussions with Japan a “canary in the tariff coal mine”.
“If Japan secures a deal -- even a half-baked one -- the template is set. If they walk away empty-handed, brace yourself. Other nations will start pricing in confrontation, not cooperation,“ he wrote in a newsletter.
And “don’t forget the elephant in the vault: Japan's still the biggest holder of US Treasuries. And that, my friend, is a whole lot of leverage”, he added.
Top Japanese officials including Ishiba have brushed aside claims that Tokyo may have deliberately created volatility in the US Treasury market to force Trump's pause of reciprocal tariffs, saying that is not what allies would do.
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