Japan wants US to stick to trade deal as new global tariffs kick in

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Japanese Trade Minister Ryosei Akazawa spoke with US Commerce Secretary Howard Lutnick on Monday regarding new US tariffs. Akazawa emphasized that Japan should not be disadvantaged compared to the terms of the existing Japan-US trade agreement from last year, which included a $550 billion investment mechanism from Japan and reduced US auto tariffs. The call occurred as the US prepared to implement new tariffs, initially set at 10% but potentially rising to 15%. Akazawa and Lutnick agreed to collaborate on the smooth implementation of projects under the existing investment mechanism. The discussion highlights ongoing uncertainty surrounding US trade policies.
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