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Japan pM Ishiba, after Meeting Trump, Voices Optimism Over Averting

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TOKYO, Feb 9 (Reuters) – Japanese Prime Minister Shigeru Ishiba revealed optimism on Sunday that his nation could prevent higher U.S. tariffs, stating President Donald Trump had “identified” Japan’s huge investment in the U.S. and the American jobs that it develops.

At his first White House top on Friday, Ishiba told public broadcaster NHK, he explained to Trump how many Japanese car manufacturers were producing jobs in the United States.

The two did not particularly discuss vehicle tariffs, Ishiba said, although he said he did not understand whether Japan would undergo the reciprocal tariffs that Trump has said he plans to impose on imports.

Tokyo has up until now escaped the trade war Trump unleashed in his first weeks in workplace. He has announced tariffs on products from Canada, Mexico and China, although he postponed the 25% tasks on his North American neighbours to permit talks.

The trade stress because Trump went back to the White House on January 20 threaten to burst the global economy.

Ishiba said he believes Trump “recognised the fact Japan has actually been the world’s largest investor in the United States for five straight years, and is for that reason different from other countries.”

“Japan is developing many U.S. tasks. I believe (Washington) will not go straight to the concept of higher tariffs,” he said.

Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, worrying that tariffs ought to be put in place in such a way that “advantages both sides”.

“Any action that makes use of or excludes the other side won’t last,” Ishiba said. “The question is whether there is any problem in between Japan and the United States that requires imposing higher tariffs,” he added.

Japan had the greatest foreign direct investment in the United States in 2023 at $783.3 billion, followed by Canada and Germany, according to the most current U.S. Commerce Department data.

Trump pushed Ishiba to close Japan’s $68.5 billion yearly trade surplus with Washington but revealed optimism this might be done quickly, offered a pledge by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.

On Sunday, Ishiba identified melted gas, steel, AI and vehicles as locations that Japanese companies could buy.

He likewise touched on Trump’s guarantee to look at Nippon Steel purchasing U.S. Steel, users.atw.hu instead of purchasing the storied American company – a prepared purchase opposed by Trump and blocked by his predecessor, Joe Biden.

“Investment is being made to ensure that it remains an American business. It will continue to operate under American management, with American workers,” Ishiba said. “The essential point is how to ensure it remains an American business. From President Trump’s viewpoint, this is of utmost value.”

On military spending, another area where Trump has pressed allies for pipewiki.org increases, Ishiba said Japan would not increase its defence budget without very first winning public support. “It is essential to guarantee that what is deemed required is something the taxpayers can comprehend and support,” he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)