Japan Fights for Free Trade Amidst Tariff Tensions

Japanese Prime Minister Shigeru Ishiba emphasized the importance of defending free trade systems, particularly the CPTPP, amidst US tariff tensions. Japan aims to negotiate tariff relief while strengthening ties with Southeast Asia and Europe, considering US security interests important. Top negotiator Ryosei Akazawa is in Washington seeking concessions.

Amid escalating trade tensions, Japanese Prime Minister Shigeru Ishiba has vowed to protect and expand rules-based, free, and multilateral trade systems. He underscored the importance of thriving economies built on fair trade, dismissing high tariffs as a path to economic prosperity.

Ishiba's remarks, delivered at a global forum in Tokyo, coincide with Japan's negotiations with the US over recent tariff measures. Despite Japan's ongoing efforts, including potential purchases of US farm products and defence equipment, no concessions have been secured from Washington. Japan's chief tariff negotiator, Ryosei Akazawa, is currently in the US for further discussions.

In his speech, Ishiba also encouraged other Asian countries to back the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), aiming to demonstrate free and fair economic order. Japan remains committed to enhancing the framework while maintaining the US as a crucial security ally.

(With inputs from agencies.)