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Investing.com-- U.S. President Donald Trump said “big progress” was made during a meeting with a Japanese trade delegation in Washington on Wednesday, as the two nations opened talks aimed at resolving tensions over a wave of U.S. tariffs.
“A Great Honor to have just met with the Japanese Delegation on Trade. Big Progress!” Trump wrote on Truth Social, without offering details of the discussion.
The talks mark the start of formal negotiations to reach a bilateral trade deal amid growing concerns over the economic fallout from U.S. tariffs.
The Japanese delegation was led by Economic Revitalization Minister Ryosei Akazawa, a close associate of Prime Minister Shigeru Ishiba.
Akazawa told reporters that Trump wants a deal before his 90-day tariff pause ends, while Japan hopes for a swift agreement.
Japan faces a 24% tariff on exports to the U.S., though most have been paused for 90 days. However, a 10% base rate and a 25% duty on automobiles —key for Japan’s export-reliant economy—remain.
Akazawa did not share specifics of the discussion but confirmed both sides are committed to ongoing dialogue. The next meeting date is still undecided.