[Report] According to Japan’s Yomiuri Shimbun, U.S. President Donald Trump stated on June 29th local time that he is not prepared to reduce the additional tariff of 25% on Japanese cars. The automotive tariff has been a focal point in the U.S.-Japan trade negotiations, with Japan repeatedly demanding that the U.S. lower its tariffs on Japanese cars. The Japanese Minister for Economic Revitalization, Hiroshiro Goto, made his seventh visit to the United States on June 26th, but this time even extending his trip did not allow him to meet with U.S. Treasury Secretary Steven Mnuchin.
According to reports, Trump mentioned on Fox News’ television program on June 29th that, “Japan does not import American cars, but the U.S. imports millions of Japanese cars, which is unfair. We have explained this to Japan and they recognize it.” Regarding the negotiation deadline, Trump also stated, “I will write a letter, and the trade talks will end… I can send a letter to Japan: ‘Dear Japan, your cars will be subject to a 25% tariff.'”
The Tokyo Broadcasting Company reported that the Japanese Minister for Economic Revitalization, Hiroshiro Goto, embarked on his seventh round of negotiations on the tariff issue in the United States on June 26th. He had planned to return home on the 28th, but issues arose regarding the meeting with U.S. Treasury Secretary Steven Mnuchin. In order to meet with Mnuchin, Goto extended his trip to Washington and stayed there, but ultimately could not meet with Mnuchin, who will return to Japan on the 30th.
In the U.S.-Japan trade negotiations, Japan has repeatedly demanded that the U.S. lower its tariffs on Japanese cars. Before his departure for Washington on June 26th, Goto had explicitly stated, “We cannot accept a 25% car tariff at all.” Kyodo News reported that Trump’s remarks highlight the impact of the automotive tariff as a barrier to negotiations, leading to difficulties in the U.S.-Japan trade talks.
Trump’s tariff policies are impacting the global economy.