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Investing.com-- U.S. officials said they cannot give Japan preferential treatment in President Donald Trump’s tariff plans during trade talks held last week, Japanese broadcaster NHK reported on Wednesday, citing Japanese government sources.
Japan’s Economic Revitalization Minister Akazawa Ryosei, the country’s lead negotiator, asked the U.S. to review tariffs on automobiles and steel, which are among Japan’s biggest exports.
But U.S. officials argued they could not make exceptions for Japan, given that other countries also face trade tariffs, the NHK report said.
Japan had largely objected to Trump’s tariffs, with Prime Minister Ishiba Shigeru warning that the country did not plan to make any concessions during trade talks. Trump’s 25% tariff on automobiles is a major point of contention for Japan, given that the country exports vast numbers of vehicles to the United States.
The NHK report showed that some Japanese government officials were concerned that the U.S. will not negotiate on lowering its tariffs, instead demanding that Japan increase its import of U.S. autos and agricultural goods to eliminate trade deficits.
Japan-U.S. talks shortly after Trump imposed and then almost immediately postponed a 24% tariff on Tokyo, as part of his sweeping “reciprocal” tariffs on major U.S. trading partners.
The NHK report said that Japan had no intention of dropping its demand for lower tariffs, and that negotiators will again ask the U.S. to review its measures.