Ryosei Akazawa, Japanese Economy Minister and Japan’s chief trade negotiator Ryosei Akazawa is already en route to the United States, beginning Thursday. His visit comes as the administration seeks to address a myriad of trade disputes. He particularly promotes the reduction of the reciprocal auto tariffs that both nations placed on each other in 2018. On Wednesday, Akazawa made it clear just how pressing his upcoming negotiations are. He is focused on using these discussions to deepen bilateral trade relationships.
While in the United States, Akazawa will participate in the productive exchange with US officials and experts. In particular, they’ll discuss the major tariffs affecting the automotive industry. The tariffs have been the source of vitriolic debates between Japan and the US. They are a huge driver of trade flows and pricing strategies for automotive manufacturers across both countries. Akazawa’s call for an executive order from the US government to lower these tariffs reflects Japan’s proactive approach in seeking equitable trade terms.
Akazawa underscored the importance of these negotiations in his remarks before leaving. Second, he noted that reducing auto tariffs would result in greater benefits to automakers. This change would dramatically enhance competitive pressure to provide lower prices at retail for consumers in both countries. Akazawa makes the case for lower tariffs generally, to create a more open and reciprocal trading environment. Read on to learn why he thinks that second approach is essential for generating shared economic prosperity.
Akazawa’s visit comes at a very opportune time as we are making intensive global efforts to promote and protect inclusive international trade. Japan and the United States are both experiencing incredibly difficult economic times. The two countries have a deep-rooted relationship in strong trade connections. New tensions over possible U.S. auto tariffs are raising fears of a Trump-Macron alliance gone awry.
On top of this, Akazawa’s position as Japan’s chief trade negotiator puts him in the thick of trying to make amends on these accidents. Given his expertise in trade matters, he is very well placed through to his training and experience to advocate effectively for Japan’s interests, while addressing American concerns. These next joint hearings should offer an opportunity for legislators and advocates on both sides to discuss and identify potential compromises and collaborative, mutually advantageous solutions.
Akazawa’s visit will tackle a number of key trade issues. Beyond the auto tariffs, look for advances on forced technology transfers and agricultural exports. Taken together, these discussions illustrate Japan’s deep commitment to a new paradigm for trade negotiations. They’re looking to bring the private sector and other non-governmental actors into these discussions.
As the world looks on at these historic advancements, Akazawa’s tenacity in helping to cultivate conversations is sorely needed. Second, during his confirmation process he promised to try to advocate for lower tariffs. Moreover, he likely seeks to bolster Japan’s status as a leading force in global trade talks. He plays hardball with US officials. Through these efforts, his hope is to be a bridge for greater collaboration and trust between the two countries.