Japan trade negotiator Akazawa says cannot tolerate 25% tariffs on autos

  • Further remarks by Akazawa
  • Will not set a deadline in negotiating with US on trade
  • And that includes the 1 August date set currently
  • There is no point in striking a deal with the US without agreement on tariffs on autos
  • Japan has already put all the necessary issues on the table
  • Autos are a key sector that is core to Japan's economy
  • Will not sacrifice agriculture sector for sake of trade deal with the US

Akazawa continues to talk a tough game for the time being. However, the pressure is going to ramp up as tariffs against Japan will increase to 25% after 1 August. With a deal still not in sight, we'll have to see where the can will be kicked down the road next following that.

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