Japan PM Ishiba After Meeting Trump Voices Optimism Over Averting

Ishiba says no talk with Trump on car tariffs at summit


Trump recognises Japan's US big financial investment, job creation


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 could avoid higher U.S. tariffs, saying President Donald Trump had "acknowledged" Japan's huge financial investment in the U.S. and the American tasks that it produces.


At his very first White on Friday, Ishiba told public broadcaster NHK, he explained to Trump how numerous Japanese car manufacturers were developing tasks in the United States.


The two did not particularly talk about car tariffs, Ishiba said, although he said he did not know whether Japan would go through the mutual tariffs that Trump has said he plans to trouble imports.


Tokyo has so far left the trade war Trump released in his very first weeks in office. He has revealed tariffs on goods from Canada, Mexico and China, although he held off the 25% tasks on his North American neighbours to permit for talks.


The escalating trade tensions considering that Trump returned to the White House on January 20 threaten to burst the international economy.


Ishiba said he believes Trump "acknowledged the fact Japan has been the world's biggest financier in the United States for five straight years, and is therefore different from other countries."


"Japan is developing many 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 avoid a tit-for-tat tariff war, stressing that tariffs should be put in place in a method that "advantages both sides".


"Any action that makes use of or excludes the other side will not last," Ishiba said. "The concern is whether there is any issue between Japan and the United States that calls for imposing greater tariffs," he added.


Japan had the highest foreign direct financial 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 data.


Trump pushed Ishiba to close Japan's $68.5 billion yearly trade surplus with Washington however expressed optimism this might be done rapidly, offered a promise by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.


On Sunday, Ishiba determined liquefied natural gas, steel, AI and automobiles as areas that Japanese business could invest in.


He likewise discussed Trump's pledge to take a look at Nippon Steel buying U.S. Steel, garagesale.es rather than purchasing the storied American business - a planned purchase opposed by Trump and obstructed by his predecessor, Joe Biden.


"Investment is being made to guarantee that it remains an American business. It will continue to run under American management, with American workers," Ishiba said. "The key point is how to ensure it remains an American business. From President Trump's point of view, this is of utmost value."


On military spending, another location where Trump has actually pressed allies for boosts, Ishiba said Japan would not increase its defence budget plan without first winning public support. "It is crucial to make sure that what is considered essential is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)