Japan pM Ishiba, after Meeting Trump, Voices Optimism Over Averting
Ishiba states no talk with Trump on auto tariffs at top
Trump recognises Japan's US big financial investment, job development
LNG, steel, AI and vehicles are locations Japan can invest in US
Nippon Steel will run under US management, personnel
Japan will not raise defence costs without public support
TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his country might avoid greater U.S. tariffs, saying President Donald Trump had actually "identified" Japan's substantial financial investment in the U.S. and the American tasks that it develops.
At his very first White House top on Friday, Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese car manufacturers were creating jobs in the United States.
The 2 did not particularly discuss auto tariffs, Ishiba said, although he said he did not understand whether Japan would go through the mutual tariffs that Trump has said he prepares to trouble imports.
Tokyo has up until now got away the trade war Trump released in his first weeks in office. He has revealed tariffs on items from Canada, Mexico and China, although he delayed the 25% duties on his North American neighbours to permit talks.
The intensifying trade stress since Trump returned to the White House on January 20 threaten to burst the international economy.
Ishiba said he believes Trump "recognised the fact Japan has been the world's largest investor in the United States for five straight years, and is therefore various from other nations."
"Japan is producing lots of U.S. jobs. I believe (Washington) will not go straight to the concept of greater tariffs," he said.
Ishiba voiced optimism that Japan and the U.S. can prevent a tit-for-tat tariff war, worrying that tariffs must be put in location in a manner that "advantages both sides".
"Any action that exploits or omits the opposite won't last," Ishiba said. "The question is whether there is any issue between Japan and the United States that necessitates enforcing greater 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 recent U.S. data.
Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington however revealed optimism this could be done quickly, given a promise by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.
On Sunday, Ishiba identified liquefied gas, steel, AI and automobiles as locations that Japanese business could purchase.
He also discussed Trump's pledge to look at Nippon Steel buying U.S. Steel, rather than buying the storied American company - a prepared purchase opposed by Trump and obstructed by his predecessor, Joe Biden.
"Investment is being made to guarantee that it remains an American business. It will continue to run under American management, with American staff members," Ishiba said. "The bottom line is how to ensure it remains an American business. From President Trump's point of view, this is of utmost value."
On military spending, another location where Trump has pressed allies for asystechnik.com increases, Ishiba said Japan would not increase its defence budget without first winning public support. "It is crucial to ensure that what is deemed essential is something the taxpayers can understand and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)