President Donald Trump intervened in trade talks with Japanese officials on Wednesday.
He attended the meeting along with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, key economic advisers who play a major role in his tariff and trade policies.
The move underscores the precarious position the United States finds itself in after new trading rules sent stock markets around the world tumbling.
Since the US imposed trade rules on a number of foreign countries, the country has had to reassure the public that the government is working to reach agreements with world leaders.
“Hopefully we can reach some kind of resolution that is GOOD for both Japan and the United States!” Mr. Trump wrote in a social media post ahead of the meeting.
He later noted: “It is a great honor to meet with the Japanese trade delegation. We have made significant progress!”
The president's decision to engage in talks shows his desire to quickly reach agreements with other countries, such as China, which is also seeking its own package of agreements.
It is an open test for Mr Trump's reputation as a negotiator as countries around the world try to minimise the potential damage from his import tariffs.
The massive tariffs announced by Trump on April 2 raised fears of a global recession, prompting the US president to impose a partial 90-day suspension of import duties.
He also increased already high tariffs on goods from China to 145%.
The pause temporarily exempted Japan from 24% general tariffs, but still imposed a basic 10% tariff and a 25% tax on imported cars, auto parts, and steel and aluminum exports.
Because Japan levies an average tax rate of 1.9% on goods from other countries and has longstanding ties to the United States, Wednesday's talks are an important indicator of whether the Trump administration can reach a meaningful deal that reassures markets, American voters and foreign alliances.
China is seeking to capitalize on growing concerns over Trump's comments, with President Xi Jinping touring Southeast Asia to promote his country as a more reliable trading partner.
Japan was one of the first countries to begin open negotiations with the United States.
Mr Trump and other administration officials said the phones were “ringing constantly” from dozens of countries looking to strike deals with a president who sees himself as a master negotiator to avoid
Sourse: breakingnews.ie
