
Japan is holding firm. The country's leadership has not shifted its position on US tariffs and is demanding their removal. According to Ryosei Akazawa, Japan's top trade negotiator, Tokyo remains unwavering and has no intention of backing down.
Although the administration of US President Donald Trump has shelved plans to hike retaliatory tariffs on some countries, including Japan, the baseline 10% tariffs on goods such as steel, aluminum, and auto parts remain in effect.
At a press conference, Akazawa called the retaliatory tariffs and trade levies on specific goods "extremely regrettable." The Japanese official stressed that any agreement with Washington would be meaningless unless the tariffs are lifted, particularly the 25% tariff on automobiles and auto parts. Japan's automotive sector is a cornerstone of its economy. Tokyo's position on the issue has not changed, Akazawa reiterated.
Notably, US and Japanese officials held working-level trade talks in Washington on May 19. Despite being one of the first countries to engage with the US following Trump's tariff actions, Japan has yet to secure a deal with the White House. The current suspension of US tariffs set at 24% for Japan is due to expire in July unless an agreement is reached.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

© InstaFintech Group
-
Grand Choice
Contest by
InstaForexInstaForex always strives to help you
fulfill your biggest dreams.JOIN CONTEST -
Chancy DepositDeposit your account with $3,000 and get $1000 more!
In June we raffle $1000 within the Chancy Deposit campaign!
Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.JOIN CONTEST -
Trade Wise, Win DeviceTop up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.JOIN CONTEST