US Rejects Japan's Request for Full Tariff Exemption

In a recent development that has caught the attention of international trade observers, the United States has denied Japan's request for a complete exemption from both a 10% "reciprocal" tariff and a country-specific duty. This decision was conveyed during high-level talks in Washington, as reported by Kyodo on Monday.

Details of the Negotiations

According to sources familiar with the matter, Treasury Secretary Scott Bessent and other US officials met with Japan's chief negotiator Ryosei Akazawa last week. The American side made it clear that the Trump administration is only willing to discuss the possibility of reducing the 14% country-specific tariff, which is currently suspended until early July.

Future Prospects

During the second round of negotiations, US representatives emphasized that their focus would remain on either extending the 90-day suspension or reducing the 14% tariff, depending on the progress of the discussions. This stance underscores the US's firm position on trade negotiations with Japan.