JAPANESE Prime Minister Shigeru Ishiba has said the nation has no intention of making significant concessions or hastily finalising an agreement in the upcoming tariff negotiations with President Donald Trump’s administration.
Ishiba disclosed this on Monday, April 14, during parliament, in response to President Trump’s 24 per cent tariff on Japanese exports to the United States.
However, like many of Trump’s broad “reciprocal” tariffs, the measure has been temporarily suspended for 90 days, during which a universal 10 per cent rate applies, along with a 25 per cent duty specifically on cars.
The ICIR reported that President Trump said last week that his government was working on “tailored deals” with trading partners, noting that he would prioritise allies like Japan and South Korea.
As a result, the Trump administration has scheduled talks with South Korea and Japan, while Italian Prime Minister Giorgia Meloni is expected to visit on Thursday this week.
The two countries are set to begin trade talks in Washington on Thursday, with discussions expected to focus on tariffs, non-tariff barriers, and exchange rates.
“I’m not of the view that we should make big concessions for the sake of wrapping up negotiations quickly,” Ishiba told parliament, while ruling out the possibility of imposing Japanese tariffs on United States imports in retaliation.
“In negotiating with the United States, we need to understand what’s behind Trump’s argument, both in terms of the logic and the emotional elements behind his views,” Ishiba said, noting that United States tariffs have the potential to disrupt the global economic order.
Japan, a long-time United States ally, and its biggest export destination and automobile shipments accounts for roughly 28 per cent of its exports.
Along with its significant trade surplus with the United States, Trump has also accused Japan of deliberately keeping the yen weak, leading to expectations that Tokyo may face pressure to strengthen its currency.
This is despite a recent broad dollar sell-off that has driven the yen higher.
The dollar fell 0.62 per cent to 142.62 yen on Monday.
Sources have previously indicated that the Bank of Japan’s gradual approach to raising borrowing costs from ultra-low levels could also face criticism during the talks.
Economy Minister Ryosei Akazawa, who will head Japan’s delegation, stated that any discussions regarding currency exchange rates will be conducted between Japanese Finance Minister Katsunobu Kato and United States Treasury Secretary Scott Bessent.
“Both countries share the view that excessive market volatility would have adverse effects on the economy,” Kato said.
Japan has traditionally aimed to curb excessive appreciation of its currency, since a strong yen negatively impacts its export-driven economy. However, in recent years, a weak yen has posed a greater challenge by increasing import costs and dampening consumer spending.
Lawmakers from both ruling and opposition parties have intensified calls for the government to reduce taxes or provide cash handouts to help ease the economic strain caused by rising living costs and Trump’s tariffs.
Ishiba stated that the government is not currently considering a supplementary budget but is prepared to take timely action to mitigate any economic impact.
Nanji is an investigative journalist with the ICIR. She has years of experience in reporting and broadcasting human angle stories, gender inequalities, minority stories, and human rights issues.