FX.co ★ Japan, US Fail to Bridge Tariff Divide as Trade Talks Continue

Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump have agreed to continue trade negotiations, although a breakthrough concerning tariffs has not yet been achieved—a situation that may significantly impact Japan's economy. The two leaders convened for a brief 30-minute discussion on the margins of the G7 Summit in Canada, marking their second face-to-face meeting. Japan sought progress in negotiations, keen to avert the imposition of U.S. tariffs—a 25% tariff on automobiles and 24% on other imports—which have been temporarily suspended until July 9. "While efforts to finalize a deal are ongoing, differences in our positions persist," Ishiba remarked, refraining from specifying the areas of disagreement. He underscored the critical importance of safeguarding Japan's automotive industry, deeming it a "major national interest."