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Japan seeks to reach tariff agreement with US in June - Economy Minister

Tokyo, May 2 (UNI) A new round of Japan-US ministerial trade talks could take place in the second half of May, and Tokyo hopes to reach an agreement on tariffs at the leaders' level in June, Japanese Economic Revitalization Minister Ryosei Akazawa said on Friday.
"We were able to hold a frank and constructive discussion and make progress in order to reach an agreement that is beneficial to both Japan and the US as soon as possible," Akazawa was quoted by the NHK broadcaster as saying.
Akazawa and US Treasury Secretary Scott Bessent met in Washington on Thursday to discuss tariffs.
"I think that from the middle of this month we will need to reach a stage where we thoroughly discuss all the points that were not fully discussed or where there were any omissions or mistakes," the minister said.
Asked whether the agreement between the leaders could be reached in June during the G7 summit, Akazawa said it "would be good if we can get to that stage."
Japanese Prime Minister Shigeru Ishiba said the sides are not yet able to reach a common position, but Tokyo intends to seek common ground with Washington on the tariff issue as soon as possible.
"But we must not prioritize speed at the expense of our national interests," Ishiba said, adding that as before, Tokyo intends to achieve "the abolition of tariff measures."
The first round of Japan-US talks was held in Washington on April 17.
On April 2, US President Donald Trump signed an executive order that implemented reciprocal tariffs on imports from various countries. The base tariff rate was established at 10%, with higher rates applied to 57 countries based on the US trade deficit with each specific nation. On April 9, Trump declared that a baseline tariff of 10% would be imposed for 90 days on over 75 countries that had not retaliated and had requested negotiations, except for China.
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