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Investing.com-- Japanese Prime Minister Shigeru Ishiba said on Tuesday that his country had not reached an agreement on trade tariffs with the U.S., although they will continue negotiations.
Speaking to reporters after the Group of Seven summit on Tuesday evening, Ishiba said that disagreements remained over some tariffs with the U.S., and that the levies had impacted several Japanese firms, specifically automakers.
Ishiba’s comments come after he met U.S. President Donald Trump at the G7 summit on Monday, but no trade agreement was reached between the two. Japan’s main point of contention is the 25% duties on automobiles and steel.
Japanese ministers have so far signaled that they are seeking an exemption from all U.S. trade tariffs.
Japan faces increased U.S. tariffs from early July, if the country does not reach a trade deal with the world’s largest economy. Trump’s “liberation day” tariffs on a host of other countries are also set to take effect next month.