Key Facts
• October 5: Ryosei Akasawa departs for Washington to discuss tariff reductions.
• Current U.S. auto tariff: 25%; Japan seeks reduction to 15%.
• Akasawa to meet Treasury Secretary Bessent and Commerce Secretary Ratnick.
• Japan urges early issuance of a presidential order for tariff reduction.
• Akasawa confirms no discrepancies in U.S.-Japan understanding of the 15% tariff.
• Visit scheduled to conclude on October 9.
• This marks Akasawa’s 9th visit to the U.S. for trade negotiations.
Summary
Ryosei Akasawa, Japan’s Minister for Economic Revitalization, embarked on his 9th visit to the U.S. on October 5 to push for the early implementation of a 15% auto tariff agreed upon in prior U.S.-Japan negotiations. Currently, U.S. tariffs on Japanese automobiles stand at 25%, and Japan is advocating for a swift presidential order to enforce the reduction. Akasawa is set to meet key U.S. officials, including Treasury Secretary Bessent and Commerce Secretary Ratnick, to discuss the matter. Before departing, Akasawa emphasized the importance of fulfilling the agreement and confirmed alignment between the two nations on the tariff terms. His visit is expected to conclude on October 9.
