Overview

• President Trump described the initial US-Japan trade talks as making 'big progress,' though no specific details were disclosed.
• Japanese Economic Revitalisation Minister Ryosei Akazawa led the delegation, joined by US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
• Discussions focused on tariffs, Japan's financial contributions for hosting US troops, exchange rates, and potential Japanese investment in an Alaskan gas project.
• Japan faces a 90-day pause on 24% export tariffs but remains subject to a 10% universal rate and 25% auto duty, critical for its export-driven economy.
• Japanese Prime Minister Shigeru Ishiba emphasized caution, ruling out rushed agreements or retaliatory measures despite US leverage and economic risks.