Japan will push for a complete rollback of additional U.S. tariffs ahead of trade negotiations in Washington, top negotiator Ryosei Akazawa said on Tuesday. His remarks come just before a scheduled three-day visit to the U.S. capital.
Despite being a long-standing ally, Japan has faced 24% tariffs on its exports under measures introduced by former President Donald Trump. While the levies are currently under a 90-day pause, Japanese officials remain concerned about their long-term impact.
“These tariffs are steadily eroding the profits of Japanese companies,” Akazawa said during a press briefing.
"It won't be easy but the government will work as one to achieve our goal at the earliest date possible," he said. "Our goal is the complete removal of additional U.S. tariffs."
Akazawa, who is Japan's economy minister, said he will visit the U.S. from Wednesday to Friday for talks with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer.
Japan hopes to convince the U.S. that the two countries can achieve a "win-win" situation without resorting to tariffs, such as by expanding Japanese investment in the U.S., Akazawa said. He did not comment on a possible timeframe for striking a deal.
The U.S. is Japan's biggest export destination and automobile shipments account for roughly 28% of its exports there.
Given its heavy reliance on the U.S. market, Japan has much at stake in the talks that are expected to cover tariffs, non-tariff barriers and the thorny topic of exchange rates.
Most economists expect Trump's tariffs to knock 0.6 percentage point off Japan's economic growth in the current fiscal year ending in March 2026, according to a survey by the Japan Center for Economic Research released last week.
The market rout caused by Trump's tariffs also risks cooling business sentiment and derailing a cycle of rising wages and prices, which the Bank of Japan (BOJ) sees as a prerequisite in normalising ultra-easy policy.
Global stock, currency and bond markets have whipsawed due to Trump's back-and-forth comments on tariffs, with some analysts seeing the recent sharp drops in U.S. Treasuries and the dollar as a sign markets are losing confidence in the safe- haven status of U.S. assets.
