US Treasury Secretary Bessent Says July 20 Japan Upper House Election Restricts Difficult US-Japan Tariff Talks Including Trump Tariffs

US Treasury Secretary Bessent stated that Japan's upcoming upper house election, scheduled for July 20 with the official campaign starting July 3, is creating constraints on the ongoing US-Japan tariff negotiations. Bessent described the election as a domestic limitation that has contributed to the stagnation of talks regarding tariff agreements, including those related to the Trump-era tariffs. He characterized the negotiation environment as difficult and acknowledged that the election is a major factor restricting progress. Additionally, Bessent noted that while trade talks with the European Union continue, Japan's political calendar imposes significant challenges on reaching a deal.