Japanese Prime Minister Shigeru Ishiba said Japan will continue trade talks with the United States in an effort to reach a bilateral deal that benefits both sides, Reuters reported, BTA reports.
Ishiba's comments came in response to letters from US President Donald Trump warning that Japan and South Korea could face 25% tariffs if they do not reach an agreement with Washington by August 1.
Although a final agreement has not yet been reached between Tokyo and Washington, there has been some progress in the talks, which has helped Japan avoid an increase in US tariffs to 30-35%, as President Trump recently hinted. This was made clear in a statement by Prime Minister Ishiba during a cabinet meeting convened to discuss the country's strategy regarding customs policy.
“We received a proposal from the US to accelerate the negotiations before the new deadline of August 1. The proposal states that depending on Japan's response, the content of the letter may be changed“, Ishiba said.