Ishiba says no talk with Trump on car tariffs at summit

Trump recognises Japan's US huge financial investment, classifieds.ocala-news.com job development

LNG, steel, AI and autos are locations Japan can purchase US

Nippon Steel will operate under US management, staff

Japan will not raise defence costs without public assistance

TOKYO, Feb 9 (Reuters) - Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his country might avoid greater U.S. tariffs, asteroidsathome.net saying President Donald Trump had actually "identified" Japan's huge financial investment in the U.S. and the American jobs that it creates.

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

The 2 did not particularly discuss auto tariffs, Ishiba said, although he said he did not understand whether Japan would be subject to the reciprocal tariffs that Trump has actually said he prepares to trouble imports.

Tokyo has up until now escaped the trade war Trump let loose in his first weeks in office. He has revealed tariffs on goods from Canada, Mexico and bbarlock.com China, although he postponed the 25% duties on his North American neighbours to .

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

Ishiba said he believes Trump "identified the reality Japan has actually been the world's largest investor in the United States for five straight years, and is for that reason various from other nations."

"Japan is producing many U.S. jobs. I think (Washington) will not go straight to the idea of greater tariffs," he said.

Ishiba voiced optimism that Japan and the U.S. can avoid a tit-for-tat tariff war, worrying that tariffs need to be put in place in a way that "benefits both sides".

"Any action that makes use of or leaves out the opposite will not last," Ishiba said. "The question is whether there is any problem between Japan and the United States that requires imposing higher tariffs," he included.

Japan had the highest foreign direct investment in the United States in 2023 at $783.3 billion, bbarlock.com followed by Canada and addsub.wiki Germany, according to the most current U.S. Commerce Department data.

Trump pushed Ishiba to close Japan's $68.5 billion yearly trade surplus with Washington however revealed optimism this could be done rapidly, given a pledge by Ishiba to bring Japanese financial investment in the U.S. to $1 trillion.

On Sunday, Ishiba determined liquefied natural gas, steel, AI and vehicles as areas that Japanese business could buy.

He likewise discussed Trump's promise to look at Nippon Steel investing in U.S. Steel, experienciacortazar.com.ar instead of purchasing the storied American company - a planned purchase opposed by Trump and blocked by his predecessor, Joe Biden.

"Investment is being made to guarantee that it remains an American company. It will continue to operate under American management, with American workers," Ishiba said. "The bottom line is how to ensure it remains an American company. From President Trump's point of view, this is of utmost importance."

On military costs, another location where Trump has actually pressed allies for morphomics.science increases, Ishiba said Japan would not increase its defence budget without very first winning public support. "It is vital to make sure that what is considered necessary is something the taxpayers can understand and support," he said. (Reporting by Leika Kihara: Additional reporting by Tim Kelly; Editing by William Mallard)