Japan’s economic revitalization minister and chief tariff negotiator Ryosei Akazawa cancelled a trip to Washington scheduled for 28 Aug., after officials uncovered “administrative issues” that need further working-level talks, Chief Cabinet Secretary Yoshimasa Hayashi said in Tokyo. Akazawa had planned to meet U.S. Commerce Secretary Howard Lutnick to finalise a July accord that would cap most U.S. tariffs on Japanese goods at 15% and lower duties on Japanese car imports to 15% from 27.5%. In return, Tokyo has offered up to $550 billion in U.S.-bound investments financed through government-backed loans and guarantees. Japan is pressing the White House to amend an executive order so the 15% levy is not applied on top of existing duties and to issue a separate order implementing the lower auto tariff. Senior bureaucrats will continue negotiations, and Japanese officials say Akazawa could reschedule the visit as early as next week once outstanding points are resolved. The delay extends uncertainty for exporters after Japan’s July shipments to the United States recorded their steepest fall in four years, leading the government to cut its 2025 growth forecast to 0.7% from 1.2%.
"Japan's top trade negotiator abruptly canceled a trip to Washington." https://t.co/63CtnGspTk
Chief Cabinet Secretary Yoshimasa Hayashi told reporters some details required further consultations, so the trip was postponed. https://t.co/GgbFOkNFGc
自動車関税下げ遅れる恐れ 日米合意後も続く協議、赤沢氏が訪米中止 https://t.co/vhOSo1R7yg