Key Takeaways
- The US and Japan have agreed to start talks on the settlement of trade disputes, amid tariffs imposed by the US Treasury Department.
- The next round of US-Japan ministerial trade talks is planned for the second half of May, with a goal of reaching an agreement on tariffs at the leaders’ level in June.
- The talks will focus on fair and reciprocal trade, economic security, and the importance of a strong bilateral relationship between the US and Japan.
Washington: Washington and Tokyo have agreed to begin consultations on the settlement of trade disputes against the backdrop of tariffs imposed by the United States, the US Treasury Department said.
US Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and US Trade Representative Jamieson Greer met with Japan’s Economic Revitalization Minister Ryosei Akazawa this week, holding discussions “on fair and reciprocal trade,” the Treasury Department said in a statement on Friday.
During the talks, “Secretary Bessent highlighted to Minister Akazawa both tariffs and non-tariff measures, the importance of economic security as national security” and “reaffirmed the strong bilateral relationship between the United States and Japan and agreed to the immediate start of working-level consultations,” the statement said.
Additional ministerial-level meetings are also planned in the near future, according to the Treasury Department.
Akazawa said on Friday that a new round of Japan-US ministerial trade talks could take place in the second half of May, and Tokyo hoped to reach an agreement on tariffs at the leaders’ level in June.
The first round of Japan-US talks was held in Washington on April 17.
