Japan's High-Stakes Tariff Talks: A Race Against Economic Loss

Japan's trade negotiator, Ryosei Akazawa, is aiming for quick progress in tariff talks with the US. Japanese automakers face significant financial losses due to tariffs, with one firm reportedly losing $1 million every hour. Akazawa highlights the urgency of resolving the issue due to the high stakes involved.

Japan's chief trade negotiator, Ryosei Akazawa, expressed urgency in tariff negotiations with the United States, as Japanese automakers endure mounting losses.

One unnamed automaker claims its losses average $1 million per hour, exemplifying the economic pressure that a 25% tariff on auto exports has created.

Akazawa emphasized the necessity for quick, steady progress, acknowledging that no Japanese company can withstand such heavy tariffs indefinitely.

(With inputs from agencies.)