Japan PM Ishiba After Meeting Trump Voices Optimism Over Averting

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TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his country might prevent greater U.S. tariffs, stating President Donald Trump had "identified" Japan's big investment in the U.S. and the American jobs that it produces.


At his first White House summit on Friday, Ishiba told public broadcaster NHK, users.atw.hu he explained to Trump how lots of Japanese automakers were developing jobs in the United States.


The 2 did not particularly go over vehicle tariffs, Ishiba said, although he said he did not understand whether Japan would undergo the reciprocal tariffs that Trump has actually said he prepares to enforce on imports.


Tokyo has so far left the trade war Trump unleashed in his first weeks in office. He has announced tariffs on goods from Canada, wiki.eqoarevival.com Mexico and China, although he held off the 25% responsibilities on his North American neighbours to enable for talks.


The escalating trade stress considering that Trump returned to the White House on January 20 threaten to rupture the global economy.


Ishiba said he believes Trump "acknowledged the truth Japan has actually been the world's largest financier in the United States for 5 straight years, and is for that reason different from other countries."


"Japan is producing lots of U.S. tasks. I believe (Washington) will not go straight to the idea of greater tariffs," he said.


Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, worrying that tariffs ought to be put in place in a manner that "benefits both sides".


"Any action that exploits or omits the opposite will not last," Ishiba said. "The question is whether there is any issue between Japan and the United States that necessitates imposing 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, funsilo.date according to the most recent U.S. Commerce Department data.


Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington but expressed optimism this could be done rapidly, provided a promise by Ishiba to bring in the U.S. to $1 trillion.


On Sunday, Ishiba determined melted natural gas, steel, AI and cars as locations that Japanese companies could buy.


He likewise discussed Trump's guarantee to take a look at Nippon Steel buying U.S. Steel, rather than purchasing the storied American business - a prepared purchase opposed by Trump and blocked 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 guarantee it remains an American company. From President Trump's point of view, this is of utmost importance."


On military spending, another area where Trump has pressed allies for boosts, Ishiba said Japan would not increase its defence spending plan without first winning public backing. "It is important to guarantee that what is considered required is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)