U.S. Treasury chief sure of 'good' tariff deal with Japan: Ishiba

TOKYO — Japanese Prime Minister Shigeru Ishiba on Friday quoted U.S. Treasury Secretary Scott Bessent as saying he believes the two countries can reach a "good" deal in the ongoing tariff negotiations.

Bessent's comment came after Ishiba asked him to "vigorously" advance the talks at the ministerial level with Japan's negotiator, Ryosei Akazawa, according to the prime minister, who spoke to reporters after his meeting with U.S. officials at his office in Tokyo.

The roughly 30-minute meeting took place amid stalled bilateral negotiations, with the Aug 1 deadline for U.S. President Donald Trump's so-called country-specific reciprocal tariffs fast approaching.

"Secretary Bessent said there will definitely be a good agreement," Ishiba said, adding they did not discuss the Trump administration's plan to impose a 25 percent tariff on goods from Japan.

Ishiba also expressed his willingness to hold direct talks with Trump if necessary to defend Japan's national interests, although he said no specific date has been set.

Bessent, the U.S. point man on tariff talks, is in Japan to lead a presidential delegation for the World Exposition in Osaka and attend his country's "national day" event on Saturday.

Following the meeting, Bessent thanked Ishiba and Akazawa for "their warm welcome" to Japan in a post on X.

"A good deal is more important than a rushed deal, and a mutually beneficial trade agreement between the United States and Japan remains within the realm of possibility," Bessent said, adding that he looks forward to continuing formal talks between the two countries in the future.

Hours later, Akazawa, Japan's minister for economic revitalization, reacted to Bessent's view on the social platform, writing in English, "I fully agree with you...Let's get it done."

Bessent's first visit to Japan since Trump returned to the White House in January came as the key U.S. ally entered the final days of campaigning for Sunday's House of Councillors election. Ishiba, who leads the Liberal Democratic Party, has ruled out rushing a deal at the expense of national interests.

Akazawa, who has held multiple rounds of negotiations with Bessent and Commerce Secretary Howard Lutnick, is scheduled to host the U.S. delegation at the expo on Saturday.

Earlier this week, Trump suggested that reaching an agreement with Japan before the Aug. 1 deadline would be difficult.

Among the tariff measures already implemented by Trump, a 25 percent levy on U.S.-bound cars is seen as a heavy blow to Japan's economy, in which the auto sector is a major driver of growth.

The auto duty is among the sticking points in the bilateral negotiations. The United States has also imposed higher tariffs on steel, aluminum and auto parts, along with a baseline 10 percent rate as part of country-specific tariffs.

Trump's tariff measures have complicated an otherwise strong alliance with Japan.

Ishiba told the U.S. delegation that bilateral cooperation is necessary, as the security of Asia, the Middle East and Ukraine is "intertwined." He said economic security is an area where the longtime allies can work more closely together.

As Trump has been urging NATO nations to ramp up their defense spending, concerns have grown in Japan that he may also pressure Tokyo to shoulder more of the cost of its defense.

"I said we will take the initiative and proactively strengthen our defense capabilities for the peace and security of our country," Ishiba said.

© KYODO