Japan eco min Akazawa says no comment on specifics of tariff negotiations with Trump

Japan economy minister Akazawa said that FX was not discussed.

• Negotiation lasted for 130 minutes

• Able to have thorough discussions

• Again requested review of tariffs on Japan

• No comment on specific negotiations

• Talked how Japan can expand trade, non-tariff measures, economic security with US

• Told US that tariff measures regrettable

• Did not discuss forex

• Want to hold next meeting after mid-May

• No discussions on national security

• Asked us to review tariff measures on auto parts

• Negotiation handled as a package

• National security matters different from tariff talks

• Did not talk about China during talks

• Already decided forex matters to be discussed between finance ministers

• Understand that US wanting to reach some kind of agreements within 90-day window with various countries

I bolded that timing comment above. This is not indicative of a quick resolution to trade talks as Trump would have us believe. Not that anyone does anyway.

—

Earlier from Japan:

• “Japan’s US Treasury holdings among tools for trade talks, Finance Minister Kato says”

This article was written by Eamonn Sheridan at www.forexlive.com.