Akazawa Japan Economic Daily, U.S. USTR representative meeting... “Last year’s agreement remains unchanged”

Akazawa Japan Economic Daily, U.S. USTR representative meeting... “Last year’s agreement remains unchanged”

(Tokyo = Yonhap News) Correspondent Lee Do-yeon = Kyodo News and NHK reported on the 5th that the United States and Japan have confirmed that there will be no tariffs exceeding the U.S.-Japan agreement last year in relation to the U.S. tariff measures.

Japanese Minister of Economy, Trade and Industry Ryosei Akazawa, who visited Washington, D.C. and met U.S. Trade Representative (USTR) Jamison Greer, made this announcement at a press conference on the 4th local time.

The United States and Japan signed a trade agreement last year with a tariff cap of 15%, including existing tariffs.

The United States has applied the special exception of imposing tariffs of up to 15% on Japanese products whose tariffs do not exceed 15% and imposing no additional tariffs on products whose tariffs exceed 15%.

Representatives of Akazawa Kyungsan and Greer confirmed at the meeting that they will abide by this agreement and that no additional tariffs exceeding the agreement will be imposed on Japan even if the United States introduces new measures in the future.

“Last year’s tariff agreement remains unchanged, and both countries confirmed that they will continue to work toward its implementation,” Akazawa said.

The Akazawa Chamber of Commerce and Industry announced that it had met with U.S. Secretary of Commerce Howard Rutnick the day before and confirmed the progress of Japan's $550 billion (741 trillion won) investment in the United States.

While not mentioning specific agenda items, he said, “The proportion of matters related to artificial intelligence (AI) and semiconductor manufacturing is greatly increasing.”

Meanwhile, Akazawa published a book titled 'Trump Tariff - Negotiation Record', which covers the process and secrets of tariff negotiations with the US Donald Trump administration last year.

He, who was in charge of negotiations at the time, switched to an 'investment rather than tariff' strategy, proposing investment in the United States in exchange for the high tariffs imposed by the Trump administration, and recalled how he formed a close relationship with Secretary of Commerce Rutnick, calling him by the nickname 'Rut-chan.'

After a long negotiation process, when President Trump finally extended his hand shouting, ‘You have a deal!’, the tense situation was vividly described until the moment when there was finally a clue that the two countries could reach an agreement.