Ishiba states no talk with Trump on automobile tariffs at top
Trump recognises Japan's US big financial investment, job production
LNG, steel, AI and vehicles are areas Japan can purchase US
Nippon Steel will operate under US management, personnel
Japan will not raise defence spending without public support
TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his nation might avoid higher U.S. tariffs, stating President Donald Trump had "recognised" Japan's huge investment in the U.S. and the American jobs that it develops.
At his first White House summit on Friday, Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese automakers were producing tasks in the United States.
The two did not specifically talk about car tariffs, Ishiba said, although he said he did not know whether Japan would undergo the reciprocal tariffs that Trump has said he plans to trouble imports.
Tokyo has so far got away the trade war Trump unleashed in his first weeks in workplace. He has announced tariffs on products from Canada, sincansaglik.com Mexico and China, although he held off the 25% duties on his North American neighbours to allow for utahsyardsale.com talks.
The intensifying trade tensions given that Trump went back to the White House on January 20 threaten to rupture the international economy.
Ishiba said he thinks Trump "acknowledged the reality Japan has actually been the world's largest investor in the United States for 5 straight years, and is for that reason various from other nations."
"Japan is creating lots of U.S. tasks. I think (Washington) will not go straight to the idea of greater tariffs," he said.
Ishiba voiced optimism that Japan and the U.S. can prevent a tit-for-tat tariff war, worrying that tariffs ought to be put in location in a manner that "advantages both sides".
"Any action that makes use of or excludes the opposite won't last," Ishiba said. "The concern is whether there is any issue between Japan and the United States that warrants imposing greater 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 recent U.S. Commerce Department data.
Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington however expressed optimism this could be done quickly, given a promise by Ishiba to bring Japanese investment in the U.S. to $1 trillion.
On Sunday, Ishiba determined melted natural gas, steel, AI and autos as areas that Japanese companies could purchase.
He also touched on Trump's pledge to take a look at Nippon Steel investing in U.S. Steel, as opposed to buying the storied American company - 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 crucial point is how to ensure it remains an American business. From President Trump's perspective, this is of utmost significance."
On military spending, another area where Trump has actually pushed allies for boosts, Ishiba said Japan would not increase its defence spending plan without first winning public backing. "It is essential to make sure that what is deemed essential is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)
