Japan PM Ishiba After Meeting Trump Voices Optimism Over Averting

Ishiba says no talk with Trump on vehicle tariffs at summit


Trump acknowledges Japan's US huge investment, job creation


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


Nippon Steel will operate under US management, personnel


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 might avoid higher U.S. tariffs, saying President Donald Trump had "recognised" Japan's substantial financial investment in the U.S. and parentingliteracy.com the American tasks that it creates.


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


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


Tokyo has so far left the trade war Trump released in his very first weeks in office. He has actually announced tariffs on products from Canada, Mexico and China, although he delayed the 25% tasks on his North American neighbours to allow for talks.


The intensifying trade stress given that Trump returned to the White House on January 20 threaten to burst the global economy.


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


"Japan is developing many U.S. jobs. I believe (Washington) won't go straight to the concept of greater tariffs," he said.


Ishiba voiced optimism that Japan and the U.S. can prevent a tit-for-tat tariff war, stressing that tariffs must be put in place in a manner that "benefits both sides".


"Any action that makes use of or omits the other side won't last," Ishiba said. "The question is whether there is any issue in between Japan and the United States that requires 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 recent U.S. Commerce Department information.


Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington but expressed optimism this could be done rapidly, given a promise by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.


On Sunday, Ishiba recognized melted gas, steel, AI and autos as locations that Japanese companies could purchase.


He also touched on Trump's guarantee to take a look at Nippon Steel investing in U.S. Steel, rather than buying the storied American business - a planned purchase opposed by Trump and obstructed by his predecessor, Joe Biden.


"Investment is being made to make sure that it remains an American business. It will continue to operate under American management, with American staff members," Ishiba said. "The bottom line is how to ensure it remains an American business. From President Trump's perspective, this is of utmost importance."


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