Japan's chief tariff negotiator, Ryosei Akazawa, and US Commerce Secretary Howard Lutnick had a 30-minute phone conversation on Saturday to discuss the potential for a trade agreement, as per a statement from the Japanese government cited by Reuters. Akazawa had separate in-person meetings on Friday with Lutnick and Treasury Secretary Scott Bessent, which he described as detailed and a step towards a potential trade agreement. The Japanese government statement characterised Saturday's discussion between Akazawa and Lutnick as "very in-depth" and stated that the two parties discussed the potential for reaching a mutually beneficial agreement. The negotiations took place with an eye towards the upcoming meeting between Prime Minister Shigeru Ishiba and US President Donald Trump at the Group of Seven leaders' summit in Canada, which starts on Sunday. Japan is at risk of a 24 per cent tariff rate beginning in July unless it can reach an agreement with the US Additionally, Japan is working to secure exemptions for its automakers from 25 per cent tariffs on cars, which is the country's largest industry. Attribution: Reuters Subediting: M. S. Salama
