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Japan Seeks Possibility of Trade Deal with US as G-7 Looms

  • Shigeru Ishiba, Japan’s Prime Minister, is set to travel to Kananaskis, Canada, on Sunday to participate in the Group of Seven summit, where he plans to hold discussions on trade with U.S. President Donald Trump.
  • The visit follows intense trade talks, with Japan seeking to persuade the US to lift tariffs on cars, steel, and aluminum ahead of the July 9 deadline for tariff increases.
  • Japan's trade negotiator Ryosei Akazawa recently held lengthy meetings with US Treasury and Commerce Secretaries to explore a deal preventing further tariff hikes and to advance economic cooperation.
  • Tariffs have already cost Japanese automakers over $19 billion this fiscal year and could reduce Japan's GDP by 0.9%, while analysts expect a deal but warn against concessions that might harm Ishiba politically.
  • Ishiba faces a crucial House of Councillors election on July 20, making progress on trade deals vital for his fragile government and Japan's export-driven economy.
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Japan and the United States held another round of trade negotiations in Washington as officials try to reach an agreement before a Group of Seven summit in Canada and a meeting between President Donald Trump and Prime Minister Shigeru Ishiba. Japan's leading trade negotiator, Ryosei Akazawa, met Friday with US Trade Secretary Howard Lutnick for 70 minutes, and with Treasury Secretary Scott Bessent for 45 minutes.The talks took place a few hours …

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Bloomberg broke the news in United States on Friday, June 13, 2025.
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