Japan, US Struggle to Reach Tariff Deal
(MENAFN) Japanese Prime Minister Shigeru Ishiba and US Leader Donald Trump convened in Canada on Monday but were unable to finalize any comprehensive understanding regarding tariffs.
Discussions on customs duties are set to continue, as both nations work to resolve ongoing disagreements.
According to a declaration from the Japanese Foreign Ministry, the leaders had "candid" exchanges about the US-imposed tariffs.
It was noted that Ishiba and Trump came to an understanding that "they would instruct the ministers in charge to further advance their consultation," emphasizing continued dialogue at the ministerial level.
The encounter, which took place on the sidelines of the G7 summit, focused on trade levies but failed to make meaningful strides toward resolving the contentious issue.
"We have yet to reach a deal as a package because we remain apart over certain aspects," Ishiba said to the press after the 30-minute discussion in Kananaskis, as reported by a Tokyo-based news agency.
He stressed that any potential arrangement should align with the mutual benefits of both nations and affirmed that ministerial-level negotiations would persist.
Ishiba highlighted that the US and Japan remain distant from a "mutually beneficial" understanding concerning Washington’s "reciprocal" tariffs.
The session underscored the complexities faced by these long-standing partners in attempting to reach a compromise.
Although the US has granted Japan and other nations a temporary 90-day exemption from "reciprocal" tariffs, Trump's broad implementation of trade barriers—covering sectors from automobiles and parts to steel and aluminum—has stirred unease within Japan’s export-reliant economy.
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