Japan's trade agreement with the United States remains unresolved as key presidential orders regarding tariffs on pharmaceuticals and semiconductors have not yet been issued by Washington, according to Ryosei Akazawa, Japan's chief tariff negotiator. This uncertainty is further complicated by the resignation of Prime Minister Shigeru Ishiba, announced on Sunday, a development that could undermine Tokyo's negotiation position due to the consequent political instability.
"While there has been a presidential order addressing adjustments to general tariffs, including those on automobiles and auto parts, the orders granting most-favored-nation status for pharmaceuticals and semiconductors are still pending," Akazawa stated following discussions in Washington. He emphasized that Tokyo intends to persist in advocating for these missing orders and initiate an in-depth analysis of the U.S. auto tariff adjustments and their potential effects on Japan's trade competitiveness.
