Japan Envoy Rules Out Legally Binding Trade Pact With U.S. for Now

Japan’s chief tariff negotiator, Akazawa, said Tokyo and Washington have reached a "mutual understanding" and built a "trusting relationship" on their pending trade deal, adding that there is "no gap" in their positions. Despite that progress, Akazawa disclosed that he has held no discussions with U.S. President Donald Trump or other U.S. officials on how the agreement would be implemented and is "not thinking about signing a legally binding agreement at this moment." Akazawa also declined to comment on remarks by U.S. Treasury Secretary Bessent, who recently suggested the pact might be subject to a quarterly review.