Japan pM Ishiba, after Meeting Trump, Voices Optimism Over Averting
Ishiba states no talk with Trump on auto tariffs at summit
Trump identifies Japan's US substantial financial investment, job development
LNG, steel, AI and cars are locations Japan can invest in US
Nippon Steel will run under US management, staff
Japan will not raise defence spending without public assistance
TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba revealed optimism on Sunday that his country might prevent higher U.S. tariffs, stating President Donald Trump had actually "recognised" Japan's huge investment in the U.S. and the American jobs that it develops.
At his first White House top on Friday, Ishiba informed public broadcaster NHK, he explained to Trump how numerous Japanese car manufacturers were producing jobs in the United States.
The two did not particularly talk about vehicle tariffs, Ishiba said, although he said he did not understand whether Japan would go through the reciprocal tariffs that Trump has actually said he prepares to trouble imports.
Tokyo has so far left the trade war Trump released in his very first weeks in workplace. He has announced tariffs on goods from Canada, Mexico and China, although he held off the 25% tasks on his North American neighbours to allow for bio.rogstecnologia.com.br talks.
The intensifying trade tensions because Trump returned to the White House on January 20 threaten to rupture the international economy.
Ishiba said he thinks Trump "identified the truth Japan has actually been the world's biggest financier in the United States for 5 straight years, and is therefore various from other nations."
"Japan is creating lots of U.S. tasks. I believe (Washington) will not go straight to the concept of higher tariffs," he said.
Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, stressing that tariffs ought to be put in place in such a way that "benefits both sides".
"Any action that makes use of or excludes the opposite won't last," Ishiba said. "The question is whether there is any problem in between Japan and the United States that requires imposing higher tariffs," he included.
Japan had the greatest foreign direct 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 information.
Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington however expressed optimism this might be done rapidly, offered a guarantee by Ishiba to bring Japanese investment in the U.S. to $1 trillion.
On Sunday, Ishiba determined melted gas, steel, AI and vehicles as locations that Japanese business could invest in.
He also touched on Trump's guarantee to take a look at Nippon Steel purchasing U.S. Steel, as to purchasing the storied American business - a planned purchase opposed by Trump and blocked by his predecessor, Joe Biden.
"Investment is being made to make sure that it remains an American company. It will continue to run under American management, with American employees," Ishiba said. "The essential point is how to guarantee it remains an American company. From President Trump's viewpoint, this is of utmost importance."
On military costs, another area where Trump has pressed allies for increases, Ishiba said Japan would not increase its defence budget without very first winning public support. "It is crucial to guarantee that what is considered necessary is something the taxpayers can understand and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)