Ishiba says no talk with Trump on auto tariffs at top

Trump acknowledges Japan’s US substantial investment, job production

LNG, steel, AI and automobiles are areas Japan can buy US

Nippon Steel will run under US management, staff

Japan will not costs without public assistance

TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his nation might prevent greater U.S. tariffs, saying President Donald Trump had “recognised” Japan’s substantial investment in the U.S. and the American tasks that it produces.

At his very first White House summit on Friday, valetinowiki.racing Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese car manufacturers were creating jobs in the United States.

The two did not specifically go over auto tariffs, Ishiba said, although he said he did not know whether Japan would be subject to the mutual tariffs that Trump has said he plans to trouble imports.

Tokyo has so far got away the trade war Trump let loose in his first weeks in office. He has announced tariffs on products from Canada, it-viking.ch Mexico and China, trademarketclassifieds.com although he delayed the 25% duties on his North American neighbours to permit talks.

The escalating trade tensions since Trump returned to the White House on January 20 threaten to burst the international economy.

Ishiba said he believes Trump “recognised the reality Japan has been the world’s biggest financier in the United States for 5 straight years, and is therefore different from other countries.”

“Japan is creating lots of U.S. jobs. I think (Washington) will not go straight to the concept of greater tariffs,” he said.

Ishiba voiced optimism that Japan and the U.S. can prevent a tit-for-tat tariff war, stressing that tariffs must be put in location in a way that “benefits both sides”.

“Any action that exploits or excludes the opposite will not last,” Ishiba said. “The question is whether there is any issue between Japan and the United States that necessitates imposing higher tariffs,” he added.

Japan had the highest foreign direct financial investment in the United States in 2023 at $783.3 billion, followed by Canada and Germany, according to the most current U.S. Commerce Department data.

Trump pressed Ishiba to close Japan’s $68.5 billion annual trade surplus with Washington however expressed optimism this might be done quickly, given a guarantee by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.

On Sunday, Ishiba identified melted gas, vmeste-so-vsemi.ru steel, AI and vehicles as locations that Japanese companies might purchase.

He also discussed Trump’s pledge to take a look at Nippon Steel purchasing U.S. Steel, rather than buying the storied American company - 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 operate under American management, with American workers,” Ishiba said. “The essential point is how to ensure it remains an American company. From President Trump’s point of view, this is of utmost value.”

On military spending, ura.cc another area where Trump has pushed allies for demo.qkseo.in increases, lespoetesbizarres.free.fr Ishiba said Japan would not increase its defence budget plan without first winning public support. “It is essential to make sure that what is deemed needed is something the taxpayers can understand and support,” he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly