TOKYO: Japanese Prime Minister Shigeru Ishiba stated on Wednesday that he needed to review the specifics of a trade agreement announced by US President Donald Trump before offering any remarks.
“As for what to make of the outcome of the negotiations, I am not able to discuss it until after we carefully examine the details of the negotiations and the agreement,“ Ishiba told reporters in Tokyo following Trump’s announcement.
The Prime Minister added, “As the government, we think that (the deal) will protect national interests.”
Trump, in a post on his Truth Social platform, declared, “We just completed a massive Deal with Japan, perhaps the largest Deal ever made.”
Previously, Japanese imports faced a 10% tariff, with Trump threatening to raise it to 25% by August 1 if no agreement was reached. Existing tariffs included 25% on Japanese auto imports and 50% on steel and aluminum.
Reports from Japanese media indicated that auto tariffs had been reduced to 15%, causing Japanese auto stocks to surge in Wednesday morning trading.
The announcement coincided with the eighth Washington visit by Japan’s trade envoy, Ryosei Akazawa, who met with senior US officials.
Akazawa later posted on X, “Mission accomplished.” - AFP
