Ishiba says no talk with Trump on car tariffs at summit

Trump recognises Japan's US substantial investment, task creation

LNG, steel, AI and cars are locations Japan can invest in US

Nippon Steel will run under US management, personnel

Japan will not raise defence spending without public assistance

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

At his very first White House top on Friday, Ishiba told public broadcaster NHK, he explained to Trump the number of Japanese car manufacturers were producing jobs in the United States.

The 2 did not specifically discuss auto tariffs, iuridictum.pecina.cz Ishiba said, although he said he did not understand whether Japan would go through the mutual tariffs that Trump has said he plans to impose on imports.

Tokyo has so far escaped the trade war Trump released in his first weeks in office. He has actually announced tariffs on products from Canada, Mexico and kenpoguy.com China, although he postponed the 25% duties on his North American neighbours to permit talks.

The escalating trade tensions since Trump went back to the White House on January 20 threaten to rupture the global economy.

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

"Japan is producing numerous U.S. jobs. I believe (Washington) will not go straight to the concept of higher tariffs," he said.

Ishiba voiced optimism that Japan and wolvesbaneuo.com the U.S. can prevent a tit-for-tat tariff war, worrying that tariffs must be put in location in such a way that "benefits both sides".

"Any action that makes use of or leaves out the other side won't last," Ishiba said. "The question is whether there is any problem between Japan and the United States that requires enforcing higher tariffs," he included.

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

Trump pushed Ishiba to close Japan's $68.5 billion yearly trade surplus with Washington however expressed optimism this could be done quickly, provided a guarantee by Ishiba to bring Japanese investment in the U.S. to $1 trillion.

On Sunday, Ishiba recognized melted natural gas, steel, AI and automobiles as areas that Japanese business might invest in.

He likewise discussed Trump's promise to take a look at Nippon Steel purchasing U.S. Steel, rather than buying 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 company. It will continue to run under American management, with American employees," Ishiba said. "The key point is how to guarantee it remains an American business. From President Trump's viewpoint, this is of utmost significance."

On military costs, wiki.whenparked.com another location where Trump has actually pushed allies for boosts, Ishiba said Japan would not increase its defence budget plan without very first winning public support. "It is vital to guarantee that what is considered required is something the taxpayers can comprehend and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)