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Investing.com-- Japanese Prime Minister Shigeru Ishiba stated on Monday that Japan would not accept any trade agreement with the United States that fails to address the tariffs imposed on automobile imports.
The U.S. has imposed a 25% tariff on imported automobiles, a move that has significantly impacted Japan, where vehicles account for the majority of exports to the U.S.
Recent local media reports indicated an agreement would likely be reached in early July.
Japan has proposed boosting auto investment in the U.S. and strengthening shipbuilding ties to help reach a trade compromise, public broadcaster NHK reported.
Ishiba rejected the idea of a provisional deal that excludes U.S. auto tariffs when questioned in parliament on Monday.
The move comes after President Donald Trump’s administration signed a trade framework deal with the UK, and ended two-day talks with China, but has not revealed details yet.