The ongoing trade tensions between the United States and Japan have reached a critical juncture, with both sides engaging in high-stakes negotiations to resolve their differences. As part of these efforts, Japan is seeking concessions from the US, including revised inspection standards for imported cars.
A key factor driving Japan's demands is the 24% tariff rate imposed by President Trump on countries not exempted from his trade policies. This has put significant pressure on Japanese policymakers to secure a deal with the US before the July deadline. To this end, Yui Katsura, Japan's top trade negotiator, will meet with her US counterpart to arrange tariff talks.
Japanese policymakers are particularly keen to see the US lift its 25% tariff on automobile imports, which has had a major impact on Japan's auto industry. In contrast, the US has been pushing for increased imports of corn and soybeans from Japan, with some American farmers benefiting from these agreements.