TOKYO: Japanese Prime Minister Shigeru Ishiba said on Tuesday that Japan would continue negotiations with the US to seek a bilateral trade deal that benefits both countries.
The remark came in response to US President Donald Trump’s notification via a letter that Japan, along with South Korea, would be hit with 25% tariffs from Aug 1.
While Tokyo and Washington have failed to reach an agreement so far, some progress has been made in talks that helped Japan avert a hike in US tariffs to around 30% or 35% as suggested recently by Trump, Ishiba told a meeting with cabinet ministers to discuss Japan’s strategy on the tariffs.
“We have received a proposal from the US to swiftly proceed with negotiations towards the newly set Aug 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said.