Japan: “Progress” but No “Agreement” Yet in Tariff Talks with the U.S.

Japan announced on Saturday that it is making “progress” in talks with Washington to ease the tariffs imposed by President Donald Trump on its imports, but noted that both sides have yet to find a “common ground.”

Trump had imposed a 10% tariff on Japan, similar to other countries, despite Tokyo being a key U.S. ally and its largest investor. He also imposed higher tariffs on cars, steel, and aluminum.

In addition, Trump levied “retaliatory” tariffs of 24% on Japan, though these were later suspended until early July, along with tariffs on other countries.

Japan is seeking to reduce or eliminate all tariffs announced by Trump.

During the fifth round of talks, Ryosuke Akazawa, Tokyo’s trade envoy, told Japanese reporters in Washington: “We have made further progress toward reaching an agreement.” However, he added, “We have not yet found a point of agreement.”

Akazawa said Tokyo hopes to conclude an agreement “as soon as possible,” but noted that the talks may still be ongoing when the G7 summit convenes on June 15.