Japan's Economic Revitalization Minister and chief tariff negotiator, Ryosei Akazawa, has engaged in multiple rounds of trade negotiations with U.S. officials, including Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, since late June 2025. Akazawa's seventh visit to the U.S. took place from June 26 to 29, during which he held talks with Lutnick and sought to address the Trump administration's high tariffs on Japanese goods. Despite intensive discussions, including consecutive phone calls and efforts to arrange meetings with Bessent, no definitive agreement was reached by the end of June. Akazawa returned to Japan emphasizing the continuation of vigorous negotiations. In early July, Akazawa conducted additional phone talks with Lutnick and Bessent, with both sides agreeing to persist in active tariff discussions. Bessent is scheduled to visit Japan for the 2025 World Expo in Osaka on July 19, marking his first visit since becoming Treasury Secretary. However, reports indicate that formal tariff negotiations are not planned during this visit. As the August 1 deadline for the U.S. to impose a 25% tariff on Japanese goods approaches, Akazawa made an eighth trip to Washington on July 21, holding over two hours of talks with Lutnick. Following these discussions, Akazawa stated that he will continue urging the U.S. to implement agreed reductions on auto tariffs. Japanese Finance Minister Shunichi Kato and Economy Minister Akazawa have highlighted the need to closely monitor the impact of U.S. tariffs on Japan's exports and economy amid concerns over reduced demand and a global slowdown. While negotiations remain ongoing, no clear timeline has been established for the U.S. to implement tariff relief measures.
Japan Finance Minister Kato: We Will Effectively Implement What Has Been Agreed Upon in the Trade Deal with the U.S.
Japan Economy Minister Akazawa: No Clear Timeline for U.S. to Implement Agreed Auto Tariff Reductions
Kato will keep analyzing impact of tariffs on Japan industries