Japan PM Ishiba After Meeting Trump Voices Optimism Over Averting

Ishiba states no talk with Trump on auto tariffs at summit


Trump identifies Japan's US substantial financial investment, task production


LNG, steel, AI and automobiles are locations Japan can invest in US


Nippon Steel will run under US management, personnel


Japan will not raise defence costs without public support


TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba revealed optimism on Sunday that his country might prevent greater U.S. tariffs, stating President Donald Trump had actually "acknowledged" Japan's big financial investment in the U.S. and the American jobs that it creates.


At his first White House summit on Friday, Ishiba informed public broadcaster NHK, valetinowiki.racing he explained to Trump how numerous Japanese car manufacturers were developing jobs in the United States.


The 2 did not specifically go over automobile tariffs, Ishiba said, although he said he did not understand whether Japan would undergo the mutual tariffs that Trump has said he plans to trouble imports.


Tokyo has so far escaped the trade war Trump unleashed in his first weeks in workplace. He has actually announced tariffs on items from Canada, Mexico and China, although he delayed the 25% tasks on his North American neighbours to enable talks.


The intensifying trade stress since Trump returned to the White House on January 20 to burst the worldwide economy.


Ishiba said he thinks Trump "recognised the reality Japan has actually been the world's biggest financier in the United States for 5 straight years, and is for that reason various from other nations."


"Japan is developing many U.S. jobs. I believe (Washington) won't 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 need to be put in place in such a way that "advantages both sides".


"Any action that exploits or omits the other side will not last," Ishiba said. "The concern is whether there is any problem in between Japan and the United States that requires imposing higher tariffs," he included.


Japan had the greatest foreign direct investment in the United States in 2023 at $783.3 billion, rocksoff.org followed by Canada and Germany, according to the most recent U.S. Commerce Department data.


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


On Sunday, Ishiba identified melted natural gas, steel, AI and suvenir51.ru autos as locations that Japanese companies could invest in.


He likewise discussed Trump's guarantee to look at Nippon Steel buying U.S. Steel, instead of buying the storied American business - a planned purchase opposed by Trump and obstructed by his predecessor, Joe Biden.


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


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