Prime Minister JapanShiju Ishiba, this Friday has established (11) work teams for supervision Negotiations Commercial ads with USAUnder the leadership of his close advisor and Minister of Economy, Ryosi Akazawa, who, according to the national media, will visit Washington next week.
The public broadcaster NHK said on Friday that Akazawa will meet with US Treasury Secretary Scott Pesin and American Trade Representative Jameson Jarir for tariff negotiations on April 17.
Although he did not present a specific date, Akazawa said earlier he expected to meet with his counterpart as soon as possible to start bilateral trade negotiations that may include monetary policy.
“I know that Mr. Pesin admires Japan a lot and there is no doubt that he has a good impression of our country. He also has a deep financial history, so it can be a difficult counterpart to negotiate,” Akazawa said at a press conference.
“It seems to mention unpleasant barriers and monetary policy as one of the topics he wants to discuss. If so, we will respond clearly during discussions,” he said, adding that Japan will not take any issue from the table.
Akazawa said that the first step between Japan and the United States is to agree on issues that determine the priority of topics, adding that no specific agenda has been officially defined so far.
In a sudden shift, US President Donald Trump said on Wednesday that he would temporarily reduce heavy customs duties that have just imposed dozens of countries, which increased pressure on China.
The “mutual” tariff imposed on Japan was reduced to the global average of 10 % of the first 24 % during the 90 -day break. The average of 25 % still applies to car imports.
Akazawa, along with the chief secretary of the Council of Ministers, Yoshimasa Hayashi, will lead the 37 -member work group, consisting of employees from various ministries, to request US concessions regarding definitions.
Akazawa, a former company in the Ministry of Transport, is known as one of the closest Ishiba consultants and has profound relations with the Japanese agricultural sector. The current position as Minister of Economy is his first ministerial position.
Although government officials have only revealed a little negotiating strategy in Tokyo with Washington, Japanese parliamentarians have begun to pressure the government to take measures to rid the potential economic fraud of American definitions.
Today, the government coalition, which is composed of the Liberal Democratic Party (PLD) and its Cometo partner, is considering requesting a reduction in the sales tax rate in Japan.
The newspaper said that the tax reduction will be implemented temporarily and will target foods that are constantly increasing, noting sources close to Communo.
Currently, the sales tax rate in Japan is 10 %, at a rate of less than 8 % applied to food.
Tetsuo Saito in Komeito said at his party meeting on Thursday that the implementation of the tax cuts will take time, because it will be necessary for Parliament to approve the legislation, the government must also provide cash payments to families.
However, some PLD officials are cautious about the tax reduction, as the tax is the main source of revenue to pay the increasing costs of the social welfare of the Japanese population who are advancing quickly.
The parties come to an expansion financial policy before the elections to the upper chamber, scheduled in mid -July, which PLD is likely to face difficulties due to the low rates of approval of Ishiba.
The government ruled out the possibility of lowering taxes and collecting a supplementary budget for financing cash payments, saying it was very early to judge how Trump’s prices affect the economy.
