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Japanese Prime Minister Shigeru Ishiba Criticizes U.S. Tariff Policy

Japanese Prime Minister Shigeru Ishiba Criticizes U.S. Tariff Policy

Japanese Prime Minister Shigeru Ishiba expressed a firm stance at the 30th "Future of Asia" International Forum held in Tokyo on Thursday (29th), promising to uphold a rules-based free and multilateral trading system and committing to the expansion of major trade organizations in the Asia-Pacific region.

As the United States' tariff policies have sparked global trade tensions, Ishiba criticized these policies, stating, "High tariffs cannot bring about economic prosperity, and prosperity achieved at the expense of others or the interests of other countries cannot build a solid economy." He emphasized Japan's desire to collaborate with the U.S. in investment, job creation, and high-quality manufacturing to promote shared prosperity between the U.S. and the world.

At the same time, Japan's chief tariff negotiator, Ryo Akizawa, is heading to Washington to undertake the fourth round of negotiations, aiming to persuade the U.S. to revoke recent tariff increases. So far, there has been no significant breakthrough in the negotiations, and reports suggest that Japan is considering increasing purchases of U.S. agricultural products and defense equipment as a bargaining chip.

Ishiba also emphasized that Japan's stance on tariffs remains unchanged, and he spoke with U.S. President Trump on the same day, noting that the call improved mutual understanding but did not disclose further details. Akizawa revealed that purchasing U.S. defense equipment may become a key focus in negotiations and could help improve the U.S.-Japan trade deficit. However, he clarified that Japan's security policy will not serve as a bargaining condition for trade agreements with other countries.

In his speech, Ishiba urged Asian countries to demonstrate the importance of supporting a rules-based fair economic order and highlighted the necessity of advancing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP consists of 12 countries, including Japan, the UK, New Zealand, Australia, Brunei, Canada, Chile, Malaysia, Mexico, Peru, Singapore, and Vietnam, and the U.S. is not a member of this framework.

Ishiba pledged that Japan will strive to further expand and upgrade this framework, stating that this not only aids economic development but also contributes to peace and prosperity. While Tokyo is strengthening economic ties with Southeast Asia and Europe, Japan continues to view the U.S. as key to its security policy.