Ishiba states no talk with Trump on auto tariffs at summit

Trump identifies Japan’s US substantial financial investment, job production

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Nippon Steel will run under US management, staff

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TOKYO, wiki.snooze-hotelsoftware.de Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his country could avoid higher U.S. tariffs, stating President Donald Trump had actually “recognised” Japan’s big financial investment in the U.S. and setiathome.berkeley.edu the American jobs that it develops.

At his first White House summit on Friday, Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese car manufacturers were producing tasks in the United States.

The 2 did not particularly talk about auto tariffs, Ishiba said, although he said he did not know whether Japan would go through the reciprocal tariffs that Trump has said he prepares to trouble imports.

Tokyo has up until now escaped the trade war Trump let loose in his very first weeks in workplace. He has announced tariffs on goods from Canada, Mexico and China, although he delayed the 25% responsibilities on his North American neighbours to enable talks.

The escalating trade stress because Trump returned to the White House on January 20 threaten to burst the international economy.

Ishiba said he believes Trump “identified the truth Japan has been the world’s largest financier in the United States for 5 straight years, and is for that reason different from other countries.”

“Japan is producing numerous U.S. jobs. I think (Washington) will not go straight to the idea of greater tariffs,” he said.

Ishiba voiced optimism that Japan and wiki.rrtn.org the U.S. can avoid a tit-for-tat tariff war, stressing that tariffs ought to be put in place in such a way that “advantages both sides”.

“Any action that makes use of or excludes the other side won’t last,” Ishiba said. “The question is whether there is any problem in between Japan and the United States that warrants enforcing greater tariffs,” he included.

Japan had the highest foreign direct investment in the United States in 2023 at $783.3 billion, followed by Canada and setiathome.berkeley.edu Germany, according to the most current U.S. Commerce Department data.

Trump pressed Ishiba to close Japan’s $68.5 billion annual trade surplus with Washington but revealed optimism this might be done quickly, provided a pledge by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.

On Sunday, Ishiba identified melted natural gas, steel, AI and vehicles as locations that Japanese business could purchase.

He also discussed Trump’s guarantee to take a look at Nippon Steel purchasing U.S. Steel, as opposed to buying the storied American company - a planned purchase opposed by Trump and blocked by his predecessor, Joe Biden.

“Investment is being made to ensure that it remains an American company. It will continue to operate under American management, with American workers,” Ishiba said. “The bottom line is how to ensure it remains an American business. From President Trump’s point of view, this is of utmost significance.”

On military spending, another location where Trump has actually pressed allies for increases, kenpoguy.com Ishiba said Japan would not increase its defence budget plan without first winning public backing. “It is crucial to guarantee that what is considered necessary is something the taxpayers can comprehend and support,” he said. ( by Leika Kihara: Additional reporting by Tim Kelly