Trump targets Japan trade gap, hints at tariffs or LNG deal
Donald Trump aims to eliminate the $100 billion trade deficit with Japan. He does not rule out imposing tariffs on the country. Both countries are also discussing the "pipeline in Alaska."
During the press conference after meeting with the Japanese Prime Minister Shigeru Ishiba, US President Donald Trump announced that he intends to "very quickly" reduce the US trade deficit with Japan to zero. He mentioned that it would be straightforward thanks to the sale of liquefied natural gas (LNG) to Japan. He added that both countries are discussing the "pipeline in Alaska," as "some kind of joint venture" (an entity jointly established by at least two independent enterprises to carry out a specific project or joint goal).
Trump also stated that while he plans to deepen economic cooperation with Japan, he made it clear that "the United States will trade with all countries on the basis of fairness and reciprocity." He added that he is considering imposing tariffs on Japan—and also on many other countries—to level the playing field of trade barriers. However, he assessed that he does not expect any country to suffer from it.
- We will charge them, they will charge us - said Trump.
US and Japan cooperation
The US President also announced that a Japanese steel giant will invest in the American company US Steel instead of acquiring it. The plan to take over the American company was blocked in January by President Joe Biden, although Trump was also against taking control of a company the US considers strategic.
- Next week, the head of Nissan, a very excellent company, will come here, and we will work out the details. I will help, I will be there to mediate - announced Trump, confusing the name of the Japanese company.
During the conference, Ishiba emphasized the good atmosphere of the talks and also noted that he wants to balance the trade balance with the USA through the purchase of gas. Encouraged by Trump, he criticized the previous US administration for not allowing the export of raw material to Japan. Ishiba also added that although on television Trump seems "scary," in person, he was "very sincere and very strong." However, the Japanese Prime Minister refused to answer whether he would impose retaliatory tariffs on the USA.
