Ishiba states no talk with Trump on automobile tariffs at summit

Trump recognises Japan's US huge financial investment, job production

LNG, steel, AI and automobiles are locations Japan can buy US

Nippon Steel will run under US management, personnel

Japan will not raise defence spending without public support

TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his country might avoid greater U.S. tariffs, saying President Donald Trump had actually "acknowledged" Japan's big financial investment in the U.S. and hikvisiondb.webcam the American tasks that it develops.

At his first White House summit on Friday, Ishiba informed public broadcaster NHK, fakenews.win he explained to Trump the number of Japanese car manufacturers were developing tasks in the United States.

The 2 did not specifically go over car tariffs, Ishiba said, addsub.wiki although he said he did not know whether Japan would undergo the reciprocal tariffs that Trump has said he prepares to enforce on imports.

Tokyo has so far escaped the trade war Trump let loose in his first weeks in workplace. He has actually revealed tariffs on items from Canada, Mexico and wiki.dulovic.tech China, although he the 25% tasks on his North American neighbours to permit talks.

The escalating trade stress since Trump went back to the White House on January 20 threaten to burst the worldwide economy.

Ishiba said he believes Trump "identified the fact Japan has actually been the world's biggest investor in the United States for 5 straight years, and is therefore various from other nations."

"Japan is developing lots of U.S. tasks. I believe (Washington) won't go straight to the concept of greater tariffs," he said.

Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, stressing that tariffs ought to be put in place in a manner that "advantages both sides".

"Any action that exploits or omits the other side won't last," Ishiba said. "The question is whether there is any problem between Japan and the United States that calls for imposing greater tariffs," he included.

Japan had the greatest foreign direct investment in the United States in 2023 at $783.3 billion, ai-db.science followed by Canada and Germany, according to the most current U.S. Commerce Department information.

Trump pressed Ishiba to close Japan's $68.5 billion annual trade surplus with Washington however expressed optimism this might be done rapidly, provided a pledge by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.

On Sunday, Ishiba recognized melted natural gas, steel, AI and cars as locations that Japanese business could purchase.

He likewise touched on Trump's guarantee to look at Nippon Steel buying U.S. Steel, as opposed to purchasing the storied American business - a prepared purchase opposed by Trump and blocked by his predecessor, Joe Biden.

"Investment is being made to make sure that it remains an American business. It will continue to run under American management, with American staff members," Ishiba said. "The bottom line is how to ensure it remains an American business. From President Trump's perspective, this is of utmost importance."

On military costs, another location where Trump has pressed allies for photorum.eclat-mauve.fr boosts, pyra-handheld.com Ishiba said Japan would not increase its defence spending plan without very first winning public support. "It is crucial to make sure that what is considered essential is something the taxpayers can understand and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)