Japan's Akazawa aims to visit US next week for more trade talks

Alastair Gale, Bloomberg News on Jul 19, 2025

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Japan’s top trade negotiator Ryosei Akazawa said he’s aiming to visit Washington next week to continue efforts to win tariff concessions after talks on Saturday with U.S. Treasury Secretary Scott Bessent didn’t touch on the issue.

“I will continue working vigorously toward a mutually beneficial agreement that protects Japan’s national interests,” Akazawa said on the sidelines of the World Expo in Osaka on Saturday.

Akazawa was speaking after hosting Bessent and other U.S. officials who attended U.S. National Day at the Expo. Bessent’s visit provided a rare opportunity for Japan’s point man on tariffs to engage on home ground with one of his most important counterparts in talks over President Donald Trump’s tariff regime.

However, Akazawa said the issue of tariffs wasn’t on the agenda this time. Instead, he said he and Bessent talked about the importance of the U.S.-Japan alliance and other issues, such as Bessent’s love of whiskey. Together, they toured the U.S. Pavilion at the Expo amid sweltering heat.

Japan continues to try to win exemptions from Trump’s universal tariffs and those targeted at specific goods by the US. A three-month effort has produced little more than scorn from Trump of Japan as “spoiled” and an unfair trading partner.

Despite the tension, the mood since Bessent’s arrival in Japan has been upbeat. After a meeting with the country’s prime minister on Friday, Bessent indicated that a deal with Japan could be still be in the cards.

“A mutually beneficial trade agreement between the United States and Japan remains within the realm of possibility,” Bessent wrote on X.

At a ceremony to mark U.S. National Day at the Expo on Saturday, Bessent highlighted close relations between the two countries and glossed over Trump’s criticism of Japan.

“Japan is America’s most important ally in the Indo-Pacific region,” he said. “At this critical moment in history, President Trump is continuing to strengthen this important alliance to unleash mutual prosperity that benefits the American and the Japanese people.”

Bessent also acknowledged the argument Japan has been making about its existing contributions to the U.S. economy during trade talks.

“Japan remains the largest investor into our economy, just as we are the largest investor into Japan’s economy. We look forward to continuing to boost these levels and propel our nations even further,” he said.

Akazawa is now racing against the clock to try and secure a deal before Aug. 1, when across-the-board tariffs on Japan’s exports to the US are set to jump to 25% from 10%. He has said he wants to get all tariffs on Japan removed but that stance looks unlikely to succeed given that the few deals the U.S. has done with other countries have kept some degree of tariffs in place.

A major sticking point for Japan is the separate 25% tariff on car imports into the U.S., which is dealing a heavy blow to the Asian country’s vital auto sector. Trump says Japan unfairly restricts U.S. car imports through non-tariff barriers.

Another potential challenge for Ishiba and Akazawa is Japan’s upper house election on Sunday. Voter surveys indicate that Ishiba’s ruling coalition may lose its majority, which could complicate the government’s approach to tariff negotiations.