Ishiba says no talk with Trump on automobile tariffs at summit
Trump acknowledges Japan's US substantial investment, job development
LNG, steel, AI and cars are locations Japan can buy US
Nippon Steel will operate under US management, personnel
Japan will not raise defence spending without public support
TOKYO, wiki.insidertoday.org Feb 9 (Reuters) - Japanese Prime Ishiba expressed optimism on Sunday that his country might prevent higher U.S. tariffs, stating President Donald Trump had actually "acknowledged" Japan's substantial financial 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 how many Japanese automakers were creating jobs in the United States.
The 2 did not particularly go over automobile tariffs, bphomesteading.com Ishiba said, although he said he did not know whether Japan would go through the mutual tariffs that Trump has actually said he prepares to trouble imports.
Tokyo has so far escaped the trade war Trump released in his very first weeks in workplace. He has actually announced tariffs on goods from Canada, Mexico and China, although he delayed the 25% responsibilities on his North American neighbours to enable talks.
The escalating trade tensions since Trump returned to the White House on January 20 threaten to burst the worldwide economy.
Ishiba said he believes Trump "acknowledged the fact Japan has been the world's biggest investor in the United States for 5 straight years, and is therefore different from other countries."
"Japan is creating lots of U.S. jobs. I think (Washington) will not 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 method that "benefits both sides".
"Any action that exploits or omits the opposite will not last," Ishiba said. "The concern is whether there is any issue between Japan and the United States that necessitates imposing greater tariffs," he included.
Japan had the highest 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 information.
Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington but revealed 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 liquefied natural gas, steel, AI and cars as locations that Japanese business could invest in.
He likewise touched on Trump's guarantee to look at Nippon Steel purchasing U.S. Steel, as opposed to purchasing the storied American company - a prepared purchase opposed by Trump and obstructed by his predecessor, Joe Biden.
"Investment is being made to ensure that it remains an American company. It will continue to run under American management, with American staff members," Ishiba said. "The crucial point is how to guarantee it remains an American business. From President Trump's viewpoint, this is of utmost significance."
On military costs, another area where Trump has pushed allies for boosts, Ishiba said Japan would not increase its defence spending plan without very first winning public support. "It is essential to guarantee that what is considered needed is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly
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Japan pM Ishiba, after Meeting Trump, Voices Optimism Over Averting
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