Japan’s PM optimistic about avoiding tariffs after meeting Trump

Japanese Prime Minister Shigeru Ishiba expressed optimism today that his country could avoid major US tariffs, saying that President Donald Trump “realized the importance” of Japan’s massive investment in the United States and the jobs it creates there.

Ishiba told Japanese media that he had briefed Trump on a number of Japanese automakers that create jobs in the United States.

Ishiba said they did not specifically discuss auto tariffs, but he indicated that he did not know whether Japan would be subject to the reciprocal tariffs that Trump has said he intends to impose on imports.

The escalating trade tensions since Trump returned to the White House on January 20 threaten to harm the global economy.

Ishiba said he believed Trump “realized the fact that Japan has been the world’s largest investor in the United States for five years in a row,” adding that “Japan creates a lot of jobs in the United States. I believe (Washington) will not immediately move to the idea of ​​​​imposing higher tariffs.” 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 latest data from the U.S. Department of Commerce.