Overview

• Prime Minister Shigeru Ishiba and President Donald Trump held a 30-minute meeting on June 16 at the Kananaskis Mountain resort during the G7 summit
• Ishiba urged Trump to eliminate the 25 percent tariff on Japanese cars and the 24 percent reciprocal levy paused until July 9
• The encounter was their second in-person discussion after prior high-level trade talks failed to yield an agreement
• Economists caution the auto duties could dent Japan’s economy by shaving almost 1 percent off its GDP
• Japan has signaled willingness to boost investment in the U.S. in exchange for lifting the auto tariffs