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Japan Seeks Trade Deal with U.S.

  • Japanese Prime Minister Shigeru Ishiba is set to meet U.S. President Donald Trump on the sidelines of the upcoming G7 summit in Canada starting Sunday.
  • The meeting aims to address the impact of U.S. tariffs on Japanese exports, with a July 9 deadline looming for imposing higher reciprocal tariffs absent a deal.
  • Japan's top trade negotiator Ryosei Akazawa held extensive talks with U.S. officials last Friday to explore a mutually beneficial trade agreement and avoid further auto tariff hikes.
  • Mizuho Research & Technologies estimated that escalating tariffs could reduce Japan's GDP by 0.9%, and analysts warn that tariffs sustained will eventually drag down growth significantly.
  • With a crucial July 20 House of Councillors election approaching, Ishiba faces political pressure to balance securing a trade deal while protecting national interests amid an unsettled economy.
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Japan and the United States held another round of trade negotiations in Washington as officials try to reach an agreement before a Group of Seven summit in Canada and a meeting between President Donald Trump and Prime Minister Shigeru Ishiba. Japan's leading trade negotiator, Ryosei Akazawa, met Friday with US Trade Secretary Howard Lutnick for 70 minutes, and with Treasury Secretary Scott Bessent for 45 minutes.The talks took place a few hours …

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Bloomberg broke the news in United States on Friday, June 13, 2025.
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