Japan's Finance Minister, Katsunobu Kato, is scheduled to visit the United States to engage in discussions on monetary policy with U.S. Treasury Secretary Scott Bessent. This visit follows a recent meeting in Washington where Japan's concerns regarding new tariffs were addressed, with both parties agreeing to continue negotiations later this month.
Japan has voiced apprehensions about the recently implemented tariffs, including a 25% tariff on steel and aluminum imports, as well as potential tariffs on automobile imports from Japanese companies. These tariffs, initiated in March, have raised concerns about their impact on Japanese industries and the global economy.
During the discussions, Ryosei Akazawa, Japan's chief tariff negotiator, conveyed Japan's regret over the imposed tariffs and requested their reconsideration. Both sides have expressed a commitment to finding a mutually beneficial resolution, with ongoing negotiations aimed at reaching an agreement as early as possible.