Japan pM Ishiba, after Meeting Trump, Voices Optimism Over Averting
Ishiba says no talk with Trump on vehicle tariffs at top
Trump acknowledges Japan's US huge financial investment, asteroidsathome.net job production
LNG, steel, AI and vehicles are areas Japan can purchase US
Nippon Steel will run under US management, personnel
Japan will not raise defence costs without public assistance
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 jobs that it creates.
At his very first White House top on Friday, Ishiba informed public broadcaster NHK, he explained to Trump how lots of Japanese car were producing tasks in the United States.
The two did not specifically talk about car tariffs, Ishiba said, although he said he did not know whether Japan would undergo the mutual tariffs that Trump has said he plans to trouble imports.
Tokyo has up until now left the trade war Trump unleashed in his very first weeks in workplace. He has announced tariffs on products from Canada, Mexico and oke.zone China, although he postponed the 25% tasks on his North American neighbours to allow for talks.
The escalating trade tensions because Trump returned to the White House on January 20 threaten to rupture the global economy.
Ishiba said he thinks Trump "acknowledged the truth Japan has been the world's biggest financier in the United States for 5 straight years, and is for that reason various from other nations."
"Japan is developing numerous U.S. tasks. I think (Washington) won't go straight to the concept of greater tariffs," he said.
Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, stressing that tariffs ought to be put in location in a way that "advantages both sides".
"Any action that exploits or omits the other side will not last," Ishiba said. "The concern is whether there is any problem between Japan and the United States that requires enforcing greater tariffs," he added.
Japan had the greatest foreign direct financial investment in the United States in 2023 at $783.3 billion, followed by Canada and addsub.wiki Germany, according to the most current U.S. Commerce Department information.
Trump pushed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington however expressed optimism this could be done rapidly, given a guarantee by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.
On Sunday, Ishiba recognized melted gas, steel, AI and cars as locations that Japanese companies could buy.
He also discussed Trump's promise to look at Nippon Steel purchasing U.S. Steel, rather than purchasing the storied American company - a planned purchase opposed by Trump and obstructed by his predecessor, Joe Biden.
"Investment is being made to guarantee that it remains an American company. It will continue to operate under American management, with American staff members," Ishiba said. "The bottom line is how to ensure it remains an American company. From President Trump's point of view, this is of utmost significance."
On military spending, another location where Trump has pushed allies for increases, Ishiba said Japan would not increase its defence budget without first winning public backing. "It is important to make sure that what is deemed needed is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)