President Donald Trump joined preliminary tariff negotiations with Japanese officials on Wednesday, calling the discussions a “great honor” and claiming “big progress” as the two economic powers navigate contentious trade issues.
What Happened: Japan, facing a 10% baseline tariff and 25% duties on cars, auto parts, steel, and aluminum, is among the first countries to formally begin negotiations after Trump imposed tariffs on global imports earlier this month.
“President Trump has stated that he wants to give top priority to the talks with Japan,” Japanese Prime Minister Shigeru Ishiba said in Tokyo after the meeting, reported Reuters, while cautioning that “negotiations will not be easy going forward.”
The talks come as Japan reported a $63 billion trade surplus with the United States for its fiscal year through March, according to Japan’s Finance Ministry. This growing imbalance has long frustrated Trump, who claims U.S. businesses have been “ripped off” by foreign trade practices.
Why It Matters: U.S. Treasury Secretary Scott Bessent has emphasized a “first mover advantage” for countries willing to quickly negotiate, noting more than 75 nations have requested talks since Trump’s tariff announcement.
The 90-day partial pause on the higher tariffs provides a limited window for agreement.
Italian Prime Minister Giorgia Meloni heads to Washington on Thursday for similar tariff discussions, with South Korea scheduled for talks next week.
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