Japan’s top trade negotiator abruptly cancelled a planned trip to Washington on Thursday, deepening uncertainty over efforts to finalise a $550 billion investment package designed to ease the impact of US tariffs, as reported by Reuters.
The visit by Ryosei Akazawa was expected to produce a written agreement on how investment returns would be shared between Washington and Tokyo. But government spokesperson Yoshimasa Hayashi told reporters the trip was called off because “points that need to be discussed at the administrative level” had emerged during talks with the American side.
The trade standoff coincides with Prime Minister Narendra Modi’s arrival in Japan on Thursday evening for the 15th India-Japan Annual Summit with his counterpart Shigeru Ishiba. The two leaders are expected to review their “Special Strategic and Global Partnership”, covering defence, trade, technology, and regional security. This marks Modi’s eighth trip to Japan and his first formal meeting with Ishiba since he took office.
Akazawa's delay comes amid mounting pressure on Tokyo, which in July struck a deal with Washington to cut tariffs on Japanese imports to 15% in return for the massive investment pledge.
As part of the agreement, Japan will begin importing Ford’s large F-150 pickup trucks as part of a new trade deal announced in July. In return, Japan agreed to ease restrictions on American cars and accept US vehicle safety standards.
A 15% “reciprocal” tariff—lower than the previously threatened 25%. President Trump had hailed the agreement. However, questions remain. Key issues include when the US will lower its 27.5% tariffs on Japanese cars and whether the 15% tariff cap applies to Japan. Japanese officials, including envoy Ryosei Akazawa, are in Washington for further talks. Trump also claimed Japan would invest $550 billion in the US, though Tokyo says it will mostly be loans.
According to the ministry of external affairs, the summit will reaffirm the longstanding friendship between the two nations while addressing regional and global challenges. Following his Japan visit, PM Modi will travel to China on 31 August for the Shanghai Cooperation Organisation Summit in Tianjin, where he is set to hold bilateral talks with several leaders, including President Xi Jinping.
The visit by Ryosei Akazawa was expected to produce a written agreement on how investment returns would be shared between Washington and Tokyo. But government spokesperson Yoshimasa Hayashi told reporters the trip was called off because “points that need to be discussed at the administrative level” had emerged during talks with the American side.
The trade standoff coincides with Prime Minister Narendra Modi’s arrival in Japan on Thursday evening for the 15th India-Japan Annual Summit with his counterpart Shigeru Ishiba. The two leaders are expected to review their “Special Strategic and Global Partnership”, covering defence, trade, technology, and regional security. This marks Modi’s eighth trip to Japan and his first formal meeting with Ishiba since he took office.
Akazawa's delay comes amid mounting pressure on Tokyo, which in July struck a deal with Washington to cut tariffs on Japanese imports to 15% in return for the massive investment pledge.
As part of the agreement, Japan will begin importing Ford’s large F-150 pickup trucks as part of a new trade deal announced in July. In return, Japan agreed to ease restrictions on American cars and accept US vehicle safety standards.
A 15% “reciprocal” tariff—lower than the previously threatened 25%. President Trump had hailed the agreement. However, questions remain. Key issues include when the US will lower its 27.5% tariffs on Japanese cars and whether the 15% tariff cap applies to Japan. Japanese officials, including envoy Ryosei Akazawa, are in Washington for further talks. Trump also claimed Japan would invest $550 billion in the US, though Tokyo says it will mostly be loans.
According to the ministry of external affairs, the summit will reaffirm the longstanding friendship between the two nations while addressing regional and global challenges. Following his Japan visit, PM Modi will travel to China on 31 August for the Shanghai Cooperation Organisation Summit in Tianjin, where he is set to hold bilateral talks with several leaders, including President Xi Jinping.
You may also like
Man Utd finally agree Alejandro Garnacho exit as Chelsea strike £40m transfer deal
Mumbai News: Matunga Police Transfer ₹76 Crore Corporate Fraud Case To EOW For Probe
Man could have murder sentence reduced 'if she provoked him by refusing sex'
Molly-Mae Hague bags front row theatre seats – despite paying for very different ones
Punjab CM Bhagwant Mann, AAP MLAs To Donate One Month's Salary For Flood Relief
