INTERNATIONAL
Japan to propose cooperation on rare earths in US tariff talks, Nikkei reports
Japan's chief tariff negotiator, Ryosei Akazawa, is heading to Washington from Thursday for a fifth round of talks with U.S. counterparts. - REUTERS/Filepic
TOKYO: Japan is planning to propose strengthening cooperation with the United States on rare earth supply chains in upcoming tariff talks, with recent export restrictions by China in mind, the Nikkei business daily reported on Thursday.
AI Brief
Japan's Jiji Press also reported that the U.S. had shown flexibility in reducing an additional portion of reciprocal tariffs imposed on Japan.
President Donald Trump hit Japan with 24% tariffs on its exports to the U.S., although, as with many of his levies, he paused them until early July to allow time for negotiations. A 10% universal rate remains in place in the meantime.
The U.S. has signalled flexibility in lowering the currently suspended additional 14%, Jiji also reported, without citing any sources.
Japan's chief tariff negotiator, Ryosei Akazawa, is heading to Washington from Thursday for a fifth round of talks with U.S. counterparts, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
Japan has been urging the U.S. to review its tariff policies, including the 25% import levies on Japan-made vehicles. Car manufacturing is Japan's biggest industry.
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AI Brief
- The US may reduce suspended tariffs on Japanese exports by 14%.
- A 10% base tariff still applies, while a 24% hike is paused for talks.
- Japan is pushing the US to review high car import tariffs.
Japan's Jiji Press also reported that the U.S. had shown flexibility in reducing an additional portion of reciprocal tariffs imposed on Japan.
President Donald Trump hit Japan with 24% tariffs on its exports to the U.S., although, as with many of his levies, he paused them until early July to allow time for negotiations. A 10% universal rate remains in place in the meantime.
The U.S. has signalled flexibility in lowering the currently suspended additional 14%, Jiji also reported, without citing any sources.
Japan's chief tariff negotiator, Ryosei Akazawa, is heading to Washington from Thursday for a fifth round of talks with U.S. counterparts, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
Japan has been urging the U.S. to review its tariff policies, including the 25% import levies on Japan-made vehicles. Car manufacturing is Japan's biggest industry.