Japan and U.S. to Hold Pre-G7 Trade Talks Amid Tariff Tensions

Japan and the U.S. have agreed to schedule an additional round of trade talks before the upcoming G7 summit. Key issues include addressing tariffs on autos, steel, and aluminum, with Japan urging the U.S. to reconsider its stance. The discussions also cover economic security topics like semiconductor supply chains and rare earths.

Japan and the United States have decided to conduct further trade negotiations before the G7 summit next month, Japan's chief tariff negotiator announced. The talks are set against a backdrop of conflicting interests, particularly regarding U.S. tariffs on Japanese autos.

Economy Minister Ryosei Akazawa and U.S. Treasury Secretary Scott Bessent, along with Commerce Secretary Howard Lutnick, held 130-minute talks in Washington. Both parties labeled the discussions as 'frank and constructive,' as they prepare another meeting ahead of the leaders' summit in June.

An impending 24% tariff could impact Japan in July unless a resolution is reached. Akazawa emphasized that Japan would not agree to any deal unless Washington withdraws its tariffs, which are problematic for Japan's crucial automotive sector. Economic security topics such as semiconductor supply chains were also highlighted during the negotiations.

(With inputs from agencies.)