key takeaways
- A fifth round of ministerial talks between Japan and the United States yielded no agreement, with trade negotiator Akazawa Ryōsei admitting that an agreement appears unlikely before the G7 summit next week.
- While the Japanese government has signaled its willingness to offer concessions on market access as well as on strategic cooperation in critical sectors, it remains unclear whether the US is prepared to offer concessions on sectoral tariffs that Prime Minister Ishiba Shigeru has said are necessary for Japan.
- If Tokyo cannot convince the US to accept a more mutually beneficial agreement, Ishiba could face a long-term standoff with the US requiring more significant relief measures for the Japanese economy.
Japan Foresight 