Following his meeting with US President Donald Trump, Japanese Prime Minister Shigeru Ishiba expressed optimism that his country could be exempted from additional tariffs by the US. Ishiba said Trump “recognized” Japan’s large investments in the US and the jobs created by these investments.
Ishiba, who held his first White House summit on Friday, told NHK that he told Trump how many jobs Japanese automakers create in the US. The two did not specifically discuss auto tariffs, but Ishiba said he did not know whether Japan would be subject to the “reciprocal tariffs” Trump plans to impose on imports. Tokyo has so far managed to avoid the trade war Trump launched in his first weeks in office. Trump announced tariffs on goods from Canada, Mexico and China, but delayed 25% tariffs on North American neighbors to allow for talks. Trade tensions, which have escalated since Trump’s return to the White House on January 20, threaten the global economy. Ishiba said Trump acknowledged that Japan is the largest investor in the US and he thought this could help Japan to be exempted from the additional tariffs. He also pledged to increase Japan’s investments in the US to $1 trillion and said Japan could invest in various sectors in the US, such as liquefied natural gas (LNG), steel, artificial intelligence and automotive.
