Tokyo - Saba:
The Japanese Foreign Ministry announced progress in the fourth round of tariff talks with the United States, with the fifth round scheduled to take place before the G7 summit in June.
The Japanese Foreign Ministry said in a statement: "Economic Resilience Minister Ryusei Akazawa strongly urged a review of the series of measures related to US tariffs. Both sides affirmed that through Minister Akazawa's four visits and bilateral consultations, the two sides had reached a mutual understanding of each other's positions, and emphasized that discussions aimed at reaching an agreement had made progress. The two sides also agreed to accelerate coordination and conduct further consultations ahead of a possible meeting between Japanese and US leaders at the G7 summit in June."
Japan has already held four rounds of tariff talks with the United States. US President Donald Trump was present at the start of the first round.
The United States is Japan's largest export destination, valued at $21.146.5 billion. Automobiles account for nearly a third of these exports. Until now, the tariff on Japanese cars in the United States was 2.5%, but after the imposition of additional duties, this rate rose to 27.5%. By the end of 2024, Japanese car exports to the United States reached approximately $40 billion, representing 28.3% of Japan's total exports to the United States.